Question: Karim Corporation requires a minimum $8 , 100 cash balance. Loans taken to meet this requirement cost 2% interest per month (paid at the end

Karim Corporation requires a minimum $8 , 100 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 $8 ,

100 is used to repay loans at month-end. The cash balance on

Karim Corporation requires a minimum $8 , 100 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 $8 , 100 is used to repay loans at month-end. The cash balance on July 1 is $8 , 500 , 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. 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.)

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