Unformatted text preview: Karim Corp. requires a minimum $9,200 cash balance. Loans taken to meet this requirement cost 1% interest per month (p
Any excess cash is used to repay loans at month-end, The cash balance on July1 is $9,600, and the company has no outs loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or inter:
payments) follow. "3 July August September
)Inis awarded Cash receipts $25,200 $33,200 $41,200 Cash payments 29,800 31,200 33,200 Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) shout
egook indicated with minus sign. Round your final answers to the nearest whole dollar.) Hint Print Beginning cash balance $ 9,600 $ 9,200 9 $ 9,200 a
34,800 50,400 (29,800) 0 (31,200) 0 (33,200) 0 0 (42) o (22) 0 $ 5,0000 $ 11,1500 :5 17,170 a 4,200 0 (1 ,958) 3 (2,242) 9 Cash receipts Total cash available Cash payments Interest on bank loan Preliminary cash balance Additional loan (loan repayment) ...
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- Summer '17
- Dr. Halstead
- Connect Homework Week 4 Qn.6
