Solution-Prepare a cash budget for July, August, and

Prepare a cash budget for July, August, and September

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Reference no: EM132640025

Problem - Karim Corp. requires a minimum $8,200 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 $8,600, 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	$24,200	$32,200	$40,200
Cash payments	28,300	30,200	32,200

Required - Prepare a cash budget for July, August, and September.

Reference no: EM132640025

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Prepare a cash budget for July, August, and September

Reference no: EM132640025

Reference no: EM132640025

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