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Karim Corporation requires a minimum $9,100 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 $9,100 is used to repay loans at month-end. The cash balance on July 1 is $9,500, 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. July August September Cash receipts $ 25,100 $ 33,100 $ 41,100 Cash payment 29.650 31,100 33, 100 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 CORPORATION Cash Budget July $ 9,500 25,100 34,600 August September s 9,100 $ 9,100 33.100 41,100 42.200 50,200 29,650 31,100 33, 100 Beginning cash balance Add: Cash receipts Total cash available Add: Cash payments for Cash payments Interest on loan Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) 0 29,650 31,100 33, 100 KARIM CORPORATION Cash Budget July August September $ 9,500 $ 9,100 $ 9,100 25,100 33,100 41,100 34,600 42,200 50,200 31,100 33,100 Beginning cash balance Add: Cash receipts Total cash available Add: Cash payments for Cash payments Interest on loan Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance 29,650 0 29,650 31,100 33,100 Loan balance $ Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month

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