Saved Help Chapter 20 Exercise Save & Exit Check my 4 Karim Corp. requires a minimum $9,600 cash balance. Loans taken to meet this requirement cost 1% Interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $10,000, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow 0.5 points Cash receipts Cash payments July August $25,600 $33,600 30,400 31,600 September $41,600 33,600 Skipped 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.) eBook Hint KARIM CORP Cash Budget For July, August, and September July August $ 10,000 September Beginning cash balance Print Total cash available References Preliminary cash balance Ending cash balance Loan balance $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month