6 Exercise 22-23 Manufacturing: Cash budget LO P2 25 points 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 interest per month (ald 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 1 is $42.000, and the company has no outstanding loans at that time Forecasted cash receipts and forecasted cash payments (other than for loan activity) are as follows. Book July August September Cash Receipts $93.000 119.000 358, Cash Payberts $121.000 107,900 115.402 Hira 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) Reference MIKE'S MOTORS CORP. Cash Budget For July August, and September July August September Total cash available 0 0 Preminary cash balance 0 0 0 Ending cash balance 5 0 5 05 0 Lo bace 5 03 D Loan balance, Month-end 5 0 0 5 0