I need help figuring the rest of the table out:
the end of each month). Any preliminary cash balance above $9,000 is used to repay loans at month-end. The cash balance on July 1
payments (other than for loan or Interest payments) follow.
July $25,000 29,500
August $33,000 31,000
September $41,000
Cash receipts Cash payments
Prepare a cash budget for July, August, and September.
the nearest whole dollar.
@Answer Is not complete.
KARIM CORPORATION Cash Budget July August September 9,400 $0,000 25,000 33,000 41,000 34,400 42,000
Beginning cash balance Add: Cash receipts Total cash available Less: Cash payments for All items excluding interest Interest on loan Total cash payments Preliminary cash balance Loan activity Additional loan (loan repayment) Ending cash balance
29,500 31,000 $0 410 29,500 31,041 $4,000 $10,959
33,000
33,000
9 $4,100 $0 $4,100 $4,100
1.05 9,000
Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month
4,100 1,959