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Karim Corporation requires a minimum $ 8 , 1 0 0 cash balance. Loans taken to meet this requirement cost 2 % interest per month
Karim Corporation requires a minimum $ cash balance. Loans taken to meet this requirement cost interest per month paid 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 receipts other than for loans received and budgeted cash
payments other than for loan or interest payments follow.
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.
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