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help! Lim Auto Parts, a family-owned auto parts store, began January with $10,300 cash. Management forecasts that collections from credit customers will be $11,800 in
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Lim Auto Parts, a family-owned auto parts store, began January with $10,300 cash. Management forecasts that collections from credit customers will be $11,800 in January and $15,200 in February. The store is scheduled to receive $8,000 cash on a business note receivable in January. Projected cash payments include inventory purchases (\$16,000 in January and $13,500 in February) and selling and administrative expenses ( $3,100 each month). (Click the icon to view additional information about Lim Auto Parts.) Read the Requirement 1. Prepare Lim 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 S0 balance, make sure to enter " 0 " in the appropriate cels Use parentheses or a minus sign when entering a deficiency.) Requirements 1. Prepare Lim Auto Parts' cash budget for January and February. 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,200 instead of $15,200 ? Prepare the cash budget by entering in the labels, then enter in the amounts for January first and February next. (Complete all inpu appropriate cell. Use parentheses or a minus sign when entering a deficiency.) Lim Auto Parts, a family-owned auto parts store, began January with $10,30 Prepare the casn buaget by entering in the labels, then enter in the amounts appropriate cell. Use parentheses or a minus sign when entering a deficienc Step by Step Solution
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