Karim Corp. requires a minimum $9,900 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 $10,300, 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	$	25,900		$	33,900		$	41,900
Cash payments		30,850			31,900			33,900

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	September
Beginning cash balance	$10,300	$9,900	$9,900
Cash receipts	25,900
Total cash available	36,200
Cash payments	(33,900)
Interest on bank loan	0
Preliminary cash balance
Additional loan (loan repayment)
Ending cash balance
Loan balance
Loan balance - Beginning of month	$0
Additional loan (loan repayment)
Loan balance - End of month