Karim Corporation requires a minimum $9,700 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end of each month). Any preliminary cash balance above $9,700 is used to repay loans at month-end. The cash balance on July 1 is $10,100, 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	$ 25,700	$ 33,700	$ 41,700
Cash payments	30,550	31,700	33,700

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	August	September
Beginning cash balance	$10,100
Total cash available
Total cash payments	0	0	0
Preliminary cash balance
Loan activity
Ending cash balance
Loan balance
Loan balance - Beginning of month	$0
Additional loan (loan repayment)
Loan balance - End of month