Lally Auto Parts, a family-owned auto parts store, began January with $11,000 cash. Management forecasts that collections from credit customers will be $11,300 in January and $15,300 in February The store is scheduled to receive $8,500 cash on a business note receivable in January Projected cash payments include inventory purchases ($16,000 in January and $13,800 in February) and selling and administrative expenses ($3,300 each month) (Click the icon to view additional information about Lally Auto Parts.) Read the requirements Requirement 1. Prepare Lally 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 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.) Lally Auto Parts Cash Budget January and February Cash available Cash payments Total cash payments Less Ending cash balance Requirements January February 1. Prepare Lally Auto Parts's cash budget for January and February 2. How much cash will Lally Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? Beginning cash balance Lally Auto Parts Cash Budget January and February Cash available before financing Cash receipts from customers Cash receipt on note receivable Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Purchases of inventory Selling and administrative expenses Total effects of financing January February