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Exercise 20-20 (Algo) Cash budget LO P2 1.12. Karim Corporation requires a minimum $9.400 cash balance. Loans taken to meet this requirement cost 15 interest

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Exercise 20-20 (Algo) Cash budget LO P2 1.12. Karim Corporation requires a minimum $9.400 cash balance. Loans taken to meet this requirement cost 15 interest per month (oaid at poims the end of each month). Any preliminary cash balance above $9,400 is used to repoy loans at month-end. The cash balance on July 1 is $9,800, and the company has no outstanding loans, Budgeted cash receipts (other than for foans received) and bucgered cash payments (other than for loan or interest payments) follow. 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.)

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