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Return to questionItem $9$

Karim Corporation requires a minimum $$9,900$ cash balance. Loans taken to meet this requirement cost $2\%$ interest per month $($paid at the end of each month$).$ Any preliminary cash balance above $$9,900$ is used to repay loans at month$-$end. The cash balance on July $1$ is $$10,300,$ and the company has no outstanding loans. Budgeted cash receipts $($other than for loans received$)$ and budgeted cash payments $($other than for loan or interest payments$)$ follow.

July August September

Cash receipts $$25,900$ $$33,900$ $$41,900$

Cash payments $30,85031,900$ Answer is not complete.

$\backslash$table$[[$KARIM CORPORATION$],[$Cash Budget$],[$Beginning cash balance,July,August,September$],[$$$,10,300,9,900,9,900$frown$],[$Add: Cash receipts,,$25,900$vv$,33,900$vv$,41,900$vv$],[$Total cash available,,$36,200,43,800,51,800],[$Less: Cash payments for$],[$Interest on loan,,$0,198\backslash$times $,(160)\backslash$times $],[$Total cash payments,,$0,198,(160)],[$Preliminary cash balance$],[$Loan activity$],[$Ending cash balance$],[$Loan balance$],[$Loan balance $-$ Beginning of month,$$,0,,],[$Additional loan $($loan repayment$)],[$Loan balance $-$ End of month,,,,$]]33,900$

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.$)$