Business, 24.06.2020 01:01 Theblackdot15

Karim Corp. requires a minimum $9,200 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 $9,600, 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 $ 25,200 $ 33,200 $ 41,200 Cash payments 29,800 31,200 33,200 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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Karim Corp. requires a minimum $9,200 cash balance. Loans taken to meet this requirement cost 1% int...

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