Exercise $20-20($Algo$)$ Cash budget LO P$2$

Karim Corporation requires a minimum $$9,000$ cash balance. Loans taken to meet this requirement cost $1\%$ interest per month $($paid at the end of each month$).$ Any preliminary cash balance above $$9,000$ is used to repary loans at month$-$end. The cash balance on July $1$ Is $$9,400,$ and the company has no outstanding loans. Budgeted cash recelpts $($other than for loans recelved$)$ and budgeted cash payments $($other than for loan or interest payments$)$ follow.

$\backslash$table$[[,$July,August,Septeaber$],[$Cash receipts,$$25,690,333,060,$$$41,000$