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. Cash receipts Cash payments July. 24,400 20,600 $32,400 30,400 540,400 32,400 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.) MIM CORPORATION Beginning cash balance Total cash available. Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance-Beginning of month Additional loan (loan repayment) Loan balance End of month Cauls Budget July August September $ 8,800 Loan balance $ Prewry cash balence Ending oesh balance Lan bance Beginning of no Additional loan loan repaymen