can you answer the question and also explain in specific detail how the all items excluding interest line is calculated step-by-step? Thanks :)

Motors Corporation manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. If necessary, the company borrows to meet this requirement at a cost of 3% interest per month (paid at the end of each month). Any preliminary cash balance above $30,000 at month-end is used to repay loans. The cash balance on July 1 is $41,000, and the company has no outstanding loans. Budgeted cash receipts and budgeted cash payments (other than for interest on the loan and loan activity) follow. July August Cash receipts Cash payments $ 92,000 $ 118,000 120,000 106,900 September $ 157,000 134,400 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.) > Answer is not complete. MOTORS CORPORATION Cash Budget July August September 30,000 Beginning cash balance $ 41,000 $ 30,000 $ Add: Cash receipts 92,000 118,000 157,000 Total cash available 133,000 148,000 187,000 Less: Cash payments for All items excluding interest Total cash payments 0 0 Preliminary cash balance 148,000 187,000 Additional loan (loan repayment) Ending cash balance $ 148,000 $ 187,000 Loan activity $ 0 $ 0 Loan balance, beginning of Month Additional loan (loan repayment) Loan balance, end of month $ $ 0 390 X 390 132,610 132,610 $ $ 0 0