Star Corporation is preparing its cash budget. The following information is relevant: Actual cash balance at June 30: $6,700. Actual short-term loan balance at June 30: $3,200. Budgeted cash receipts for July and August are $123,500 and $134, 100 respectively. Budgeted cash payments, excluding short-term loan interest, for July and August are $ 128,124 and $131,300 respectively. The company maintains a minimum cash balance of $5,000 and whenever, the balance falls below that, the bank provides short-term financing with an interest rate of 6%. Interest is computed on the end-of-month loan balance and paid in the month following. Also, assume that any loan borrowings are received at the beginning of the month and that any loan payments are made at the beginning of the month. Required: A. Prepare a cash budget for the months of July and August (a separate column for each month). Round interest payment amounts to the nearest full dollar. (5 marks) B. Compute the amount of the budgeted short-term loan balance at August 31. (1 mark)