Karim Corporation requires a minimum $9,500 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid a the end of each month). Any preliminary cash balance above $9,500 is used to repay loans at month-end. The cash balance on July 1 is $9,900, 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 $ 25,500 30,250 August $ 33,500 31,500 September $41,500 33,500 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.) Beginning cash balance KARIM CORPORATION Cash Budget $ July August September 9,900