Karim Corp. requires a minimum $9,500 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 $9,900, 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.

July August September Cash receipts $ 25,500 $ 33,500 $ 41,500 Cash payments 30,250 31,500 33,500

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.)

8 Answer is not complete. Beginning cash balance Cash receipts o Total cash available Cash payments (1,913) 9 5 2,43? 9 (8716 Preliminary cash balance Ending cash balance Loan balance Beginning of month Additional loan (loan repayment} Loan balance End of month