Karlm Corporation requires a minimum $9,400 cash balance. Loans taken to meet this requirement cost...
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Accounting
Karlm Corporation requires a minimum $9,400 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 $9,400 is used to repay loans at month-end. The cash balance on July 1 is $9,800, and the company has no outstanding loans. Budgeted cash recelpts (other than for loans recelved) and budgeted cash payments (other than for loan or Interest payments) follow. Prepare a cash budget for July, August, and September. (Negatlve 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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