4 Exercise 22-20 Cash budget LO P2 2.5 paints Karim Corp. requires a minimum $9,600 cash balance Loans taken to meet this requirement cost 1% Interest per month (paid monthly Any excess cash is used to repay loans at month end The cash balance on July 1 is $10,000, and the company has no outstanding loans Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow Sapped Cash receipts Cash payments July $25,600 30,00 August $33,60 31.600 September $41,600 33,600 obook 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) im Pynt KARIM CORR Casti Budget For July August, and September July August 5 September Baferences Beginning cash balance 10,000 Total cash available Preminary cash balance Ending cash balance Loan balance 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month