Mike's Motors Corp, manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end If necessary, the company borrows to meet this requirement, at a cost of 3% interest per month (paid at the end of each month). Any cash balance above $30,000 at month-end is used to repay loans. The cash balance on July 1is $27.000, and the company has no outstanding loans at that time. Forecasted cash receipts and forecasted cash payments (other than for loon activity are as follows July August September Cash Receipts $ 78,000 104,000 143,000 Cash Payments 5106,000 92,900 120,400 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) MIKE'S MOTORS CORP Cash Budget For July August, and September July August September Beginning cash balance Cash receipts Total cash available 0 Interest expense Preliminary cash balance Preliminary cash balance 0 0 Additional loan loan repayment) Ending cash balance 0$ 05 Loan balance Loan balance Bog of Month 5 05 0 Additional loan loan repayment) Loan balance Month-end $ 05 OS 0