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  3. karim corp. requires a minimum $9.600 cash balance

Karim Corp. requires a minimum $9.600 cash balance. Loans taken to meet this requirement cost...

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Accounting

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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 July August September Cash receipts $25,600 $33,600 $ 41,600 Cash payments 30,400 31,600 33,600 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.) KARIM CORP. Cash Budget For July, August, and September July August $ 10,000 September Beginning cash balance Total cash available Preliminary cash balance Ending cash balance Loan balance $ 0 Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month Prey 1 of 3 Next >

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