Karim Corporation requires a minimum $$8,400$ cash balance. Loans taken to meet this requirement cost $1\%$ interest per month $($paid at the end of each month$).$ Any preliminary cash balance above $$8,400$ is used to repay loans at month$-$end. The cash balance on July $1$ is $$8,800,$ 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.

$\backslash$table$[[,$July,August,September$],[$Cash receipts,$$24,400,$$$32,400,$$$40,400$