# Karim Corp. requires a minimum $10,000 cash balance. Loans taken to meet this requirement cost 1%... ###### Question: Karim Corp. requires a minimum$10,000 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 $10,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.  July August September Cash receipts$ 26,000 $34,000$ 42,000 Cash payments 31,000 32,000 34,000

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.)

Call receipts Cash payments $26,000$34,000 31,000 32,000 $42,000 34,000 Prepare a cash budget for July, August, and September. (Negative bolances and Loan repayment amounts indicated with minus sign. Round your final answers to the nearest whole dollar.) KARIM CORP Cash Budget For July, August, and September August$ 10,400 July September Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Loan balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month

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