Karim Corporation requires a minimum $8,100 cash balance. Loans taken to meet this requirement cost 2% Interest per the end of each month). Any preliminary cash balance above $8,100 is used to repay loans at month-end. The cash bala $8,500, and the company has no outstanding loans. Budgeted cash receipts (other than for loans received) and budget payments (other than for loan or interest payments) follow. Cash receipts Cash payments July $ 24,100 28,150 August $ 32,100 30,100 September $ 40,100 32,100 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) sho indicated with minus sign. Round your final answers to the nearest whole dollar.) Beginning cash balance Add: Cash receipts Total cash available Add: Cash payments for Interest on loan Interest revenue Total cash payments Preliminary cash balance Loan activity KARIM CORPORATION Cash Budget July August September $ 8,500 $ 8,100 $ 8,100 24,100 32,100 40,100 32,600 40,200 48,200 73 35 0 73 35 $ 4,450 $ 10,027 $ 16,065 Ending cash balance $ 8,100 $ 8,100 $ 14,342 Loan balance Loon bolanco Deginning of month 0 2.650 0 1 702