Exerclse $22-23($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 $2\%$ interest per month $($paid at the end of each month$).$ Any

preliminary cash balance above $$30,000$ at month$-$end is used to repay loans. The cash balance on July $1$ is $$38,000,$ and the

company has no outstanding loans. Budgeted cash receipts and budgeted cash payments $($other than for interest on the loan and loan

activity$)$ follow.

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

Note: Negative balances and Loan repayment amounts $($if any$)$ should be indicated with minus sign. Round your final answers to

the nearest whole dollar.