Lally Auto Parts, a family-owned auto parts store, began January with $10,500 cash. Management forecasts that collections from credit customers will be $11,200 in January and $14,800 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ($13,900 in January and $13,100 in February) and selling and administrative expenses ($3,300 each month). (Click the icon to view additional information about Lally Auto Parts.) i More Info Read the requirements, Lally Auto Parts's bank requires a $10,000 minimum balance 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 5% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Cash available Cash payments: Print Done Done Total cash payments 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 $13,800 instead of $14,800? Less: Print Done Requiremn Choose from any list or enter any number in the input fields and then click Check Answl