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Karim Corporation requlres a mInImum $8,000 cash balance. Loans taken to meet this requlrement cost 1% Interest per month (pald at the end of each

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Karim Corporation requlres a mInImum $8,000 cash balance. Loans taken to meet this requlrement cost 1% Interest per month (pald at the end of each month). Any preliminary cash balance above $8,000 is used to repay loans at month-end. The cash balance on July 1 s $8,400, and the company has no outstanding loans. Budgeted cash recelpts (other than for loans recelved) and budgeted cash oayments (other than for loan or interest payments) follow. Prepare a cash budget for July, August, and September. (Negatlve balances and Loan repayment amounts (If any) should be indlcated with minus sign. Round your final answers to the nearest whole dollar.)

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