Karim Corp. requires a minimum $8,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% Interest per month (pald monthly). Any excess cash Is used to repay loans at month-end. The cash balance on July 1 s $8,400, and the company has no outstanding loans. Forecasted cash recelpts (other than for loans recelved) and forecasted cash payments (other than for loan or Interest payments) follow. Cash receipts Cash payments $28,888 $26,888 $48,88 28,808 30,888 22,808 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.) Cash Budget For July, August, and September July August Beginning cash balance 8.400 Total cash available Preliminary cash balance Ending cash balance Loan balance Loan Additional loan (loan repayment) Loan balance End of month balance -Beginning of month