Karim Corp. requires a minimum $3,200 cash balance. Loans taken to meet this requirement cost 1% Interest per month (paid monthly Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,600, 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 ceipts July $24,200 20,300 August $32,200 30,200 September $40,200 32,200 Cash payments 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, and September July August S 8.600 September Beginning cash balance Total cash avalable Preliminary cash balance Ending cash balance Loan balance $ 0 Loan biance. Beginning of month Additional loan (loan repayment) Loan balance - End of month