AutoSave OF APO... Chapter Seven Exercises Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibrl (Body) v 12 v A X G 25 Wrap Text General Insert v AY 0 v Delete v Paste 7 Y CA Av = = = Merge & Center v $ Y Conditional Format Cell Formatting as Table Styles Sort & Filter Format v Find & Select Analyze Data Sensitivity V M24 A A H I K M N N O 4 B B C D E F G Cells highlighted in green contain a drop-down arrow; select information from list. in the cells highlighted in grey, enter the appropiate amount in those cells. When the correct amount is entered, the cell will change color. Karim Corp. requires a minimum $8,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $10,000, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow. Cash receipts Cash payments July 20,000 28,000 August 26,060 30,000 September 40,000 22,000 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.) 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 August September O KARIM CORP. Cash Budget For July, August, and September July Beginning cash balance Cash receipts Total cash available Cash payments Interest on bank loan Preliminary cash balance Additional loan (loan repayment) Ending cash balance Loan balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month - D Exercise 7-3 Exercise 7-20 Exercise 7-34 Exercise 7-35 + Ready 132%