Help Save& Exit Submit Ch 20 Connect Aessignement Karim Corp requires a minimum
ID: 2396635 • Letter: H
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Help Save& Exit Submit Ch 20 Connect Aessignement Karim Corp requires a minimum $8,300 cash balance. f necessary, loans are taken to meet thes per month (paid monthly) Any excess cash is used to repay loans at month end. The cash balance on July 1 is $8,700 and the company has no outstanding loans Forecasted cash receipts (other t recurement at a cost of 2%interest than for loans received) and forecasted cash payments (other than loan or nterest paryments) follow Prepare a cash budget for July August, and September (Negative belances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar) For July, August, and legening cash balance Tobal cash avalable Endng cash balance Loan balance-Beginning of monthS Prex 11f 13 Next hp 1702 ?Explanation / Answer
KARIM CORP. Cash budget for July, August and September July August September Total Beginning cash balance 8700 8372 8394 8700 Add: Cash receipts 24300 32500 40100 96900 Total cash available 33000 40872 48494 105600 Cash payments 28450 30500 32300 91250 Preliminary cash balance 4550 10372 16194 14350 Minimum cash balance 8300 8300 8300 8300 Cash surplus / (Deficit) -3750 2072 7894 6050 Ending Cash Balance 8372 8394 14154 14154 Financing Borrowing/(Repayment) 3900 -1900 -2000 0 Interest -78 -78 -40 -196 Total 3822 -1978 -2040 -196
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