Schedule Of Cash Payments For Direct Materials April May Materials Purchases Cash Payments For Zisk Company Total Cash 1 (90.3 KiB) Viewed 11 times
Karim Corporation requires a minimum $8,900 cash balance. Loanstaken to meet this requirement cost 2% interest per month (paid atthe end of each month). Any preliminary cash balance above $8,900is used to repay loans at month-end. The cash balance on July 1 is$9,300, and the company has no outstanding loans. Budgeted cashreceipts (other than for loans received) and budgeted cashpayments (other than for loan or interest payments) follow.
Prepare a cash budget for July, August, andSeptember. (Negative balances and Loan repaymentamounts (if any) should be indicated with minus sign. Round yourfinal answers to the nearest whole dollar.)
Schedule Of Cash Payments For Direct Materials April May Materials Purchases Cash Payments For Zisk Company Total Cash 2 (67.15 KiB) Viewed 11 times
Schedule of Cash Payments for Direct Materials April May Materials purchases Cash payments for: ZISK COMPANY Total cash payments June
Beginning cash balance Total cash available Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance - Beginning of month Additional loan (loan repayment) Loan balance - End of month KARIM CORPORATION Cash Budget $ July Loan balance 9,300 0 0 August 0 September 0
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