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Please help by showing all steps to complete the problem. Thanks! Karim Corporation...

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Accounting

Please help by showing all steps to complete the problem. Thanks! image

Karim Corporation requires a minimum $8,200 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 $8,200 is used to repay loans at month-end. The cash balance on July 1 is $8,600, 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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