Please help.. Cell formulas are needed as well.

B D E F G H I 1 5 2 Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash 3 payments for loan principal and interest payments) for the first three months of next year. 4 Cash Receipts Cash payments 6 January $525,000 $475,000 7 February 400,000 350,000 8 March 450,000 525,000 9 10 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to Minimum Monthly January 1 Cash 11 meet this requirement charge 1% interest per month, paid at each month-end. The Cash Balance interest rate balance 12 interest is computed based on the beginning balance of the loan for the month. Any $30,000 1% $30,000 13 preliminary cash balance above $30,000 is used to repay loans at month-end. The 14 company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. 15 16 Required: 17 Prepare monthly cash budgets for January, February, and March. 18 January 1 loan balance $60,000 March February $30,000 400,000 430,000 450,000 450,000 23 KAYAK COMPANY 24 Cash Budget 25 January 26 Beginning cash balance $30,000 27 Add: Cash receipts 525,000 28 Total cash available 555,000 29 Less: Cash payments for 30 All items excluding interest 31 Interest on loan 32 Total cash payments 33 Preliminary cash balance 34 Loan activity 35 Additional loan (loan repayment) 36 Ending cash balance 37 Loan balance 38 Loan balance - Beginning of month 39 Additional loan (loan repayment) 40 Loan balance, end of month 41