Karim Corp, requires a minimum $10,000 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 $10,400 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 September $26,000 $34,000 42,000 34,000 ly August Cash receipts Cash disbursements 31,000 32,000 Prepare a cash budget for July, August, and September. (Rounding your final answers to the nearest whole dollar. Negative balance and Loan repayment amount should be indicated with minus sign.)