Karim Corporation requires a minimum $9.200 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 $9.200 is used to repay loans at month end. The cash balance on July 1 is $9,600, and the company has no outstanding loans Budgeted cash receipts (other than for loans receivedand budgeted cash payments (other than for loan or interest payments) follow Cash receipts Cash payments July 5 25,200 29,800 August $ 33,200 33,200 September $ 41,200 33,200 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.) KARUM CORPORATION Cash Badget July August September $ 9.600 $ 9.200 $ 9.200 25,200 33.200 41 200 34,800 42.400 50,400 Beginning cash balance Add Cash receipts Total cash available Less Cash payments for Interest on loan 0 (42) (22) (22) Total cash payments Preliminary cash balance 0 5,000 $ (42) 11,1585 $ 17,178 5 Beginning cash balance Add Cash receipts Tatal cash available Less Cash payments for Interest on loan July August September 9,600 5 9.2005 9,200 25,200 33,200 41,200 34.800 42,400 50,400 0 (42) (22) (42) 11.1585 $ (22) 17,178 5,000 $ Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance 4,200 9 200 s $ 9,200 $ 14 936 Loan balance 5 0 $ 4,200 $ 2.242 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month 4,200 4,200 $ $ 2.242 $ 0