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A company has a cash balance on June 1 of $9,660 and has no outstanding loans. The company requires a minimum $8,260 cash baiance at

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A company has a cash balance on June 1 of $9,660 and has no outstanding loans. The company requires a minimum $8,260 cash baiance at each month-end. Loans taken to keep this minimum balance require payment of 1% interest at each month-end. Any preliminary cash balance of more than $8,260 at month-end is used to repay loans. Budgeted cash receipts (other than for loans recelved) and budgeted cash payments (other than for interest or loan payments) follow. Prepare a cash budget for June, July, and August. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round final answers to the nearest whole dollar

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