P7-7B Suppose you are preparing your personal cash budget for 20X2. During 20X2, assume that you can expect to earn $3.000 from your summer job and $2.000 for work in the college cafeteria. Also, your family always gives you gifts totaling around $300 during the year. A scholarship from your home church adds $500 each year while you are in college. Assume your family pays your college costs except for room and board. Planned expen- ditures for 20X2 include apartment rent of $175 per month for 12 months and annual lood costs of $5,000. Gas and other auto expenses usually run about $50 per month. You need to have a little fun, so entertainment will eat up $125 per month. You need some cash in reserve for auto repairs and other emergencies, so you maintain a cash reserve of $500 at all times. To start 20X2. you have this cash reserve plus $100. Will you need a loan during 20X2? To answer this question. prepare your personal cash budget for the year based on the data given.