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0 XE22-34 (similar to) Question Help Lipman Auto Parts, a family owned auto parts store began January with 510.600 cash Management forecasts that collections from credit customers will be $11,100 in January and $14.600 in February. The store scheduled to receive 54,000 cash on a business not receivable in January. Projected cash payments include Inventory purchases (511,900 in January and $13.500 in February) and selling and administrative expenses (57.800 each month (Click the icon to view additional information about Lipman Auto Parts) Read the requirements Requirement 1. Prepare Lipman Auto Parts's 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 answer boxes For entries with a 50 balance, make sure to enter in the appropriate col Use panese or a minus sign when entering a deficiency) Lipman Auto Parts Cash Budget January and February January February Beginning cash 10.000 11000 Cash receipts from customers 11.100 14 600 Cash receipt on not receive 4000 25700 Choose from any est or enter any number in the input fields and then click Check Answer part CA Check Answer receive 54.000 cash on a business note receivable in January. Projected cash payments include inventory purchases (511,900 in January and $13,500 in Februar (Click the icon to view additional information about Lipman Auto Parts.) Read the requirements January February Beginning cash balance 5 10,600 11800 Cash receipts from customers 11,100 14,600 Cash receipt on note receivable 4,000 Cash available $ 25,700 26400 Cash payments Purchases of inventory 11,900 13,500 2000 2000 Selling and administrative expenses 13900 15500 Total cash payments Cash available before financing 11800 10900 0 Less Total effects of financing receive 54,000 cash on a business note receivable in January. Projected cash payments include inventory purchases (511,900 (Click the icon to view additional information about Lipman Auto Parts.) Read the requirements $ 25,700 26400 Cash available Cash payments: Purchases of inventory Selling and administrative expenses 11,900 2000 13,500 2000 13900 15500 11800 10900 7 0 0 Total cash payments Cash available before financing Less Total effects of financing Ending cash balance before financing Projected cash excess (deficiency) 11800 10900 0 0 11800 10900 Ending cash balance Question Help Lipman Auto Parts a family-owned auto parts store began January with $10.600 cash Management forecasts that collections from credit customers will be $11.100 in January and 514 500 in February. The store is scheduled to receive 54.000 cash on a business not receivable in January Projected cash payments include inventory purchases (511,900 in January and $13.500 in February and selling and dative expenses ($2.000 each month) Click the icon to view to ormation about Lipman Auto Parts) Cash 25.700 26.400 (Click the icon to view additional information about Lipman Auto Parts) Read the requirements More into - X Requirements -X Lipman 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 Lipman Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,000, plus 5% APR interest on the entire unpaid principal. The first payment occurs three months after the loan 1. Prepare Lipman Auto Parts's cash budget for January and February 2. How much cash will Lipman Auto Parts borrow in February if collections from customers that month total $13,600 instead of $14,600? Print Done Print Done Choose from any stot enter any number in the intent there