Exercise $20-23($Algo$)$ Manufacturing: Cash budget LO P$2$

Motors Corporation manufactures motors for dirt bikes. The company requires a minimum $$30,000$ cash balance at each month$-$end. If necessary, the company borrows to meet this requirement at a cost of $3\%$ interest per month $($pald at the end of each month$).$ Any prellminary cash balance above $$30,000$ at month$-$end is used to repay loans. The cash balance on July $1$ is $$37,000,$ and the company has no outstanding loans. Budgeted cash recelpts and budgeted cash payments $($other than for Interest on the loan and loan activity$)$ follow.

$\backslash$table$[[,$July,August,September$],[$Cash receipts,$$88,000,$$$114,000,$$$153,000],[$Cash payments,$116,000,102,900,130,400]]$

Prepare a cash budget for July, August, and September.

Note: Negatlve balances and Loan repayment amounts $($If any$)$ should be indlcated with minus sign. Round your final answers to the nearest whole dollar.

$\backslash$table$[[$MOTORS CORPORATION,,,$],[,$Jush Budget,August,September$],[$Beginning cash balance,,,$],[,,,],[$Total cash available,,,$],[,,,],[,,,],[$Total cash payments,,,$],[$Preliminary cash balance,,,$],[$Additional loan $($loan repayment$),,,],[$Ending cash balance,,,$],[$Loan activity,,,$],[$Loan balance, beginning of Month,,,$],[$Additional loan $($loan repayment$),,,],[$Loan balance, end of month,,,$]]$