Laughton Auto Parts, a family-owned auto parts store, began January with $10,900 cash. Management forecasts that collections from credit customers will be $11,900 in January and $14,700 in February. The store is scheduled to receive $5,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ($13,900 in January and $13,500 in February) and selling and administrative expenses ($2,900 each month)

Requirement 1. Prepare Laughton 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 $0 balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency.)

Laughton Auto Parts' 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. Laughton Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 4% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Laugnan Auto Pars a family-owned Auto pars store, began January with S181,400 each. Management forecasts that collations from customers will be $11,509 January and $14,7110 In February. The store is scheduled to racave $5,500 cash on a business note recalvanien January Projecten cash payments include invertory purchases ($18.900 in January and $13,500 in February and saling and administrative experese ($2,500 each month) Click the icon to view additional Information about Laughton Auto Parts Head the rcuirements Requirement 1. Prepare Laughton Auto Pers' cash budget for January and February Prepare the cash budget by crtaning in the labak than enter in the amounds for January Mrst and Fahndary next. (Complete all inpur takde. For Antries with a $0 halanne, make sure to cater 'V' In the appropriate cell. Lise parentheses ar a minus sign when entoring a decency.) Laughton Auto Parts Cash Budget January and February January February Cash avalable Cash payments This cash payments LASS Ending cash balance