Help solvingTB Problem Qu$.20-196($Algo$)$ Preparing a cash budget for three months

A company requires a minimum $$11,320$ cash balance at each month$-$end. If necessary, a loan is taken to meet this requirement at a cost of $1\%$ interest per month $($paid at the end of each month$).$ Any preliminary cash balance above $$11,320$ is used to repay loans at month$-$end. The cash balance on March $1$ is $$11,500,$ and the company has no outstanding loans. Budgeted cash receipts from sales are: March, $$25,100$; April, $$32,220$; and May, $$40,550.$ Budgeted cash payments $($excluding loan or interest payments$)$ are: March, $$29,100$; April, $$30,110$; and May, $$32,220.$

Required:

Prepare a cash budget for March, April, and May.

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign. Round your final answers to the nearest whole dollar.

$\backslash$table$[[$Cash Budget$],[,$March,April,May$],[$Beginning cash balance,$$,11,500,,],[$Total cash available,,,,$],[,,,,],[,,,,],[,,,,],[$Total cash payments,,,,$],[,,0,0,],[$Preliminary cash balance,,,,$],[$Loan activity,,,,$],[$P$,,,,],[$Ending cash balance,,,,$],[,$alan,,,$],[$Loan balance, Beginning of month,$$,0,,],[$Additional loan or Repayment of loan,,,,$],[$Loan balance, End of month,,,,$]]$