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Auto Parts, a family-owned auto parts store, began J a n u a r y with $ 1 0 , 1 0 0 cash. Management
Auto Parts, a family-owned auto parts store, began January with $10,100 cash. Management forecasts that collections from credit customers will be $11,400 in January and $14,600 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ($14,200 in January and $12,300 in February) and selling and administrative expenses ($3,300 each month). Requirement 1. Prepare Lally Auto Parts' cash budget for January and February. Prepare the cash budget by entering in the labels, then enter in the amounts for January first and February next. (Complete all input fields. For entries with a $0 balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency.)
More info Lally Auto Parts' bank requires a $10,000 minimum balance in the store's checking account. At the end of any month when the account balance falls below $10,000, the bank automatically extends credit to the store in multiples of $1,000. Lally Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 3% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Print Done Homework: Chapter M:5 Homework Lally Auto Parts, a family-owned auto parts store, began January with $10,100 cash. Management forecasts that co receivable in January. Projected cash payments include inventory purchases ($14,200 in January and $12,300 in Fe (Click the icon to view additional information about Lally Auto Parts.) Read the requirements Requirement 1. Prepare Lally Auto Parts' cash budget for January and February Prepare the cash budget by entering in the labels, then enter in the amounts for January first and February next. (Cor deficiency.) Lally Auto Parts Cash Budget January and February January February Cash available Cash payments Total cash payments Less Help me solve this Etext pages Get more help receivable in January. Projected cash payments include inventory purchases ($14,200 (Click the icon to view additional information about Lally Auto Parts.) Read the requirements deficiency.) Lally Auto Parts Cash Budget January and February January February Cash available Cash payments: Total cash payments Less: Ending cash balance Help me solve this Etext pages Get more help
January
with $10,100
cash. Management forecasts that collections from credit customers will be $11,400
in January
and $14,600
in February.
The store is scheduled to receive $6,500
cash on a business note receivable in January.
Projected cash payments include inventory purchases ($14,200
in January
and $12,300
in February)
and selling and administrative expenses ($3,300
each month). Requirement 1. Prepare
Lally
Auto Parts' cash budget for January
and February.
Prepare the cash budget by entering in the labels, then enter in the amounts for
January
first and February
next. (Complete all input fields. For entries with a $0 balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency.) ![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669beec01459b_231669beebfa909a.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669beec0c1836_232669beec04e567.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/669beec1789a3_233669beec1063f7.jpg)
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