Exercise $20-20($Algo$)$ Cash budget LO P$2$

Karim Corporation requires a minimum $$9,300$ cash balance. Loans taken to meet this requirement cost $2\%$ Interest per

month $($paid at the end of each month$).$ Any preliminary cash balance above $$9,300$ is used to repay loans at month$-$

end. The cash balance on July $1$ is $$9,700,$ and the company has no outstanding loans. Budgeted cash recelpts $($other

than for loans recelved$)$ and budgeted cash payments $($other than for loan or interest payments$)$ follow.

Prepare a cash budget for July, August, and September. $($Negatlve balances and Loan repayment amounts $($If any$)$

should be indlcated with minus sign. Round your final answers to the nearest whole dollar.$)$