Karim Corp. requires a minimum $9,200 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 $9,600, 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 Cash receipts Cash payments July $25,200 29,800 August $33,200 31,200 September $41,200 33,200 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.) Beginning cash balance Cash receipts Total cash available Cash payments Interest on bank loan Preliminary cash balance KARIM CORP. Cash Budget For July, August, and September July August September $ 9,600 $ 9,200 $ 9,200 25,200 33,200 41,200 34,800 42.400 50,400 29,800 31.200 33,200 Ending cash balance Loan balance $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month