Reference: Survey of Accounting 6th edition Book

These are practice questions with but I need help learning the problems

The following information is drawn from Royal Industries' cash budget: Cash Receipts $48,988 Beginning Cash Balance $19,888 Cash Payments $58,?88 Desired Ending Cash Cushion $14,888 If there is a cash shortage, the company borrows money. If a surplus occurs funds are used to repay loans or to invest in shortterm assets. The company had no debt before January 1st. The amounted \"needed\" to borrow or the amount "available" for repayment of debt in January would be Royal Industries has budgeted the following information for January: Cash Receipts $41,589 Beginning Cash Balance $25,889 Cash Payments $52,669 Desired Ending Cash Cushion $28,368 lfthere is a cash shortage, the company borrows money. If a surplus occurs funds are used to repay loans or to invest in short-term assets. All borrowing, repayments, and interest payments occur on the last day of the month. The company had no debt before January 1"\". The interest rate is 1.00% per month. The amount of interest expense incurred for January is: Royal Industries has budgeted the following information for January: Cash Receipts $49,589 Beginning Cash Balance $16,389 Cash Payments $49,889 Desired Ending Cash Cushion $11,386 If there is a cash shortage, the company borrows money. If a surplus occurs funds are used to repay loans or to invest in shortterm assets. All borrowing, repayments, and interest payments occur on the last day of the month. The interest rate is 1.00% per month. The company had no debt before January 1sL The amount of interest paid in February would be