Solution-Prepare a cash budget for August and September

Prepare a cash budget for August and September

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Reference no: EM132849205

Problem - Karim Corp. requires a minimum $9.000 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 $9.400, 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	$25,000	$33,000	$41,000
Cash payments	29,500	31,000	33,000

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

Reference no: EM132849205

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Prepare a cash budget for August and September

Reference no: EM132849205

Reference no: EM132849205

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