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Karim Corporation requires a minimum $ 1 0 , 0 0 0 cash balance. Loans taken to meet this requirement cost 1 % Interest per
Karim Corporation requires a minimum $ cash balance. Loans taken to meet this requirement cost Interest per month pald at
the end of each month Any preliminary cash balance above $ is used to repay loans at monthend. The cash balance on July
Is $ and the company has no outstanding loans. Budgeted cash recelpts other than for loans recelved and budgeted cash
payments other than for loan or Interest payments follow.
Prepare a cash budget for July, August, and September.
Note: Negatlve balances and Loan repayment amounts If any should be Indlcated with minus sign. Round your final answers to
the nearest whole dollar.
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