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points eBook Hint Print References KARIM CORP Cash Budget For July, August, and September July August September Beginning cash balance $ 10,100 $ 9,700 $ 9,700 Cash receipts 25,700 33,700 41,700 Total cash available 35,800 43,400 51,400 Cash payments 30.550 31,700 33,700 Interest on bank loan 0 89 51 Preliminary cash balance $ 5,250 $ 11,611 $ 17,649 Additional loan (loan repayment) 4,450 (1.911) (2,539) Ending cash balance $ 9,700 $ 9.700 s 15,110 Loan balate Loan balance - Beginning of month $ 0 $ 0 Additional loan (loan repayment) (1911) (2,539) Loan balance - End of month $ Me Graw Hall 18 o 9 MacBook Pro You But esc Karim Corp. requires a minimum $9,700 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $10,100, 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 $25,700 30.550 August $33,700 31,700 September $41,700 33.700 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) KARIM CORP Cash Budget For July, August, und September July August September Beginning cash balance $ 10,100 $ 9.700 s 9.700 Cash receipts 25,700 33,700 41.700 Total cash available 35.800 43.400 51,400 Cash payments 40.550 31,700 33,700 Interest on bank loan 89 51 Preliminary cash balance $ 5,250 $ 11,611 $ 17,649 Additional loan loan repayment) 4,450 (1.011) (2.539) Ending cash balance $ 9,700 s 9.700 $ 15,110 18 le