E22-34 (similar to Question Hop im Auto Parts, a family-owned auto parts store began January with $10,300 cash Management forecasts that collections from cred customers will be $11,000 in January and $15.300 in February. The store is scheduled to receive $5,000 cash on bus s not receivable in January Projected with payments include inventory purchases (13.400 in January and $14200 in February and sering and administrative expenses 2.700 each mon Come on to view actional information about im Auto Parts) Read the owners Seng and diverses Beginning a balance Cash before inancing Case rom outomers Canceipt on ne recebe Enong ch ance before ancing Proded cash case Purchases of inventory Seg ratie Totales of financing in the evids and then chok Checker villasis that collections from credit customers will be $11,800 in Janu 11 TUJUULLU Lasn payments include inventory purchases ($13,400 in January and $14,200 in February) and selling out Lim Auto Parts.) 0 More Info Lim Auto Parts's 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. Lim Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Print Done i Requirements 1. Prepare Lim Auto Parts's cash budget for January and February. 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,3007 che input fields and then Print Done O RE IB Question Help E22-34 (similar to Lim Auto Parts, a nyone w parts store began January with 10.300 Cash Management forecasts a colections from credit comes we be $11,000 inanary and $16.00 in February. The store is scheduled to receive 55.000 cash on a unes de receive January. Practed cash payment ind e nfor purchases (513.400 in January and 514200 in February and sing and ad v enpenses (2.700 each month k the icon to view the domation wou Um P . O Read the requirements Sering and the expenses E M - L ATM Cash water anong Cashots from somers Cash receito de recev Encing cash Dance before financing Proced e ncy Purch Selling and administrative expenses Totects of financing h om o any number in the olds and then chock Check Answer 1 part 0 More Info Lim Auto Parts's 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. Lim Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Requirements 1. Prepare Lim Auto Parts's cash budget for January and February. 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? Print Done then click Check Answer. E22-34 (similar to Question Hop im Auto Parts, a family-owned auto parts store began January with $10,300 cash Management forecasts that collections from cred customers will be $11,000 in January and $15.300 in February. The store is scheduled to receive $5,000 cash on bus s not receivable in January Projected with payments include inventory purchases (13.400 in January and $14200 in February and sering and administrative expenses 2.700 each mon Come on to view actional information about im Auto Parts) Read the owners Seng and diverses Beginning a balance Cash before inancing Case rom outomers Canceipt on ne recebe Enong ch ance before ancing Proded cash case Purchases of inventory Seg ratie Totales of financing in the evids and then chok Checker villasis that collections from credit customers will be $11,800 in Janu 11 TUJUULLU Lasn payments include inventory purchases ($13,400 in January and $14,200 in February) and selling out Lim Auto Parts.) 0 More Info Lim Auto Parts's 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. Lim Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Print Done i Requirements 1. Prepare Lim Auto Parts's cash budget for January and February. 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,3007 che input fields and then Print Done O RE IB Question Help E22-34 (similar to Lim Auto Parts, a nyone w parts store began January with 10.300 Cash Management forecasts a colections from credit comes we be $11,000 inanary and $16.00 in February. The store is scheduled to receive 55.000 cash on a unes de receive January. Practed cash payment ind e nfor purchases (513.400 in January and 514200 in February and sing and ad v enpenses (2.700 each month k the icon to view the domation wou Um P . O Read the requirements Sering and the expenses E M - L ATM Cash water anong Cashots from somers Cash receito de recev Encing cash Dance before financing Proced e ncy Purch Selling and administrative expenses Totects of financing h om o any number in the olds and then chock Check Answer 1 part 0 More Info Lim Auto Parts's 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. Lim Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Requirements 1. Prepare Lim Auto Parts's cash budget for January and February. 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? Print Done then click Check