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Check my work Exercise 20-20 Cash budget LO P2 Karim Corp. requires a minimum $9,800 cash balance. If necessary, loans are ta
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KARIM CORP

Cash Budget

for July, August and September

July

August

September

Beginning Cash Balance

$                      10,200

$ 9,800.00

$            9,800

Cash receipts

$                      25,800

$ 33,800.00

$         41,000

Total Cash Available

$                      36,000

$ 43,600.00

$         50,800

Cash payments

$                      30,700

$ 31,800.00

$         33,800

Interest Expense

$                                -  

$ 45.00

$            25.45

Preliminary cash balance

$                         5,300

$ 11,755.00

$         16,975

Additional loan (Loan Repayments)

$                         4,500

$ (1,955.00)

$         (2,545)

  

Ending Cash Balance

$                         9,800

$ 9,800.00

$         14,430

Loan Balance

Loan Balance -Beginning of Month

$                                -  

$ 4,500.00

$            2,545

Additional Loan (Loan Repayment)

$                         4,500

$ (1,955.00)

$         (2,545)

Loan Balance End of Month

$                         4,500

$ 2,545.00

$                   -  

End of answer.

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