Karim Corporation requires a minimum $8,300 cash balance. Loans taken to meet this requirement cost 2% Interest per month (pald at the end of each month). Any preliminary cash balance above $8,300 is used to repay loans at month-end. The cash balance on July 1 is $8,700, 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. July August September Cash receipts $ 24,300 $ 32,300 $ 40,300 Cash payments 28,450 30,300 32,300 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 CORPORATION Cash Budget July 8,700 August September Beginning cash balance Total cash available Total cash payments Preliminary cash balance Loan activity KARIM CORPORATION Cash Budget July $ 8,700 August September Beginning cash balance Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance $ Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month