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Larim Corporation requires a minimum $9,200 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 $9,200 is used to repay loans at month-end. The cash balance on July 1 $9,600, 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. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ KARIM CORPORATION } \\ \hline \multicolumn{5}{|c|}{ Cash Budget } \\ \hline & \multicolumn{2}{|c|}{ July } & \multirow[t]{2}{*}{ August } & \multirow[t]{2}{*}{ September } \\ \hline Beginning cash balance & $ & 9,600 & & \\ \hline Add: Cash receipts & & 25,200 & 33,200 & 41,200 \\ \hline Total cash available & & 34,800 & & s. \\ \hline \multicolumn{5}{|l|}{ Less: Cash payments for } \\ \hline \multicolumn{5}{|l|}{ All items excluding interest } \\ \hline Interest on loan & & & & \\ \hline Total cash payments & & 0 & 0 & 0 \\ \hline \multicolumn{5}{|l|}{ Preliminary cash balance } \\ \hline \multicolumn{5}{|l|}{ Loan activity } \\ \hline \multicolumn{5}{|l|}{ Additional loan (loan repayment) } \\ \hline \multicolumn{5}{|l|}{ Ending cash balance } \\ \hline \multicolumn{5}{|c|}{ Loan balance } \\ \hline Loan balance - Beginning of month & $ & & & \\ \hline \multicolumn{5}{|l|}{ Additional loan (loan repayment) } \\ \hline Loan balance - End of month & & & & \\ \hline \end{tabular}

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