answer requirement 1 and 2

Assume Philton Computer Company began January with $13,000 cash. Management forecasts the following cash roceipts and paymerts during the period: Click the icon to view the information.) Read the requirements. More info Management forecasts that cash receipts from credit customers will be $50,000 in January and $52,000 in February. Projected cash payments include equipment purchases (\$16,000 in January and $40,400 in February) and selling and administrative expenses ($4,000 each month). Philton Computer Company's bank requires a $2,$,000 minimum balance in the firm's checking account. At the end of any month when the account balance falls below $20,000, the bank automatically extends credit to the firm in multiples of $5,000. Philton Computer Company borrows as little as possible and pays back loans each month in $1,000 increments, plus 12% interest on the entire unpaid principal. The first payment occurs one month after the loan. Requirements 1. Prepare Philton Computer Company's cash budget for January and February, 2020. 2. How much cash will Philton Computer Company borrow in February if cash receipts from customers that month total $32,000 instead of $52,000