Assume Piepont Computer Company began January with $10,000 cash. Management forecasts the following cash recoipts and payments during the period: 1. (Cick the icon to view the information.) Management forecasts that cash receipts from credit customers will be $50,000 in January and $52,500 in February. Projected cash payments include equipment purchases ($14,000 in January and $38,000 in February) and selling and administrative expenses ($9,000 each month). Pierpont Computer Company's bank requires a $23,000 minimum balance in the firm's checking account. At the end of any month when the account balance falls below $23,000, the bank automatically extends credit to the firm in multiples of $5,000. Pierpont Computer Company borrows as little as possible and pays back loans each month in $1,000 increments, plus 5% interest on the entire unpaid principal. The first payment occurs one month after the loan. 1. Prepare Pierpont Computer Company's cash budget for January and February, 2020. 2. How much cash will Pierpont Computer Company borrow in February if cash receipts from customers that month total $37,500 instead of $52,500