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  3. karim corporation requires a minimum $8,800 cash b

Karim Corporation requires a minimum $8,800 cash balance. Loans taken to meet this requirement cost...

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Accounting

Karim Corporation requires a minimum $8,800 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid at
the end of each month). Any preliminary cash balance above $8,800 is used to repay loans at month-end. The cash balance on July 1
is $9,200, 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.
Note: 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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