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Karlm Corporation requires a mInmum $9,600 cash balance. Loans taken to meet this requirement cost 1% Interest per month (pald a the end of each

image text in transcribed Karlm Corporation requires a mInmum $9,600 cash balance. Loans taken to meet this requirement cost 1% Interest per month (pald a the end of each month). Any preliminary cash balance above $9,600 is used to repay loans at month-end. The cash balance on July 1 Is $10,000, and the company has no outstanding loans. Budgeted cash recelpts (other than for loans recelved) and budgeted cash payments (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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