Ling Auto Parts, a family-owned auto parts store, began January with $10,900 cash. Management forecasts that collections from credit customers will be $11,000 in January and $14,700 in February. The store is scheduled to receive $4,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ( $11,900 in January and $13,000 in February) and selling and administrative expenses (\$3,000 each month). (Click the icon to view additional information about LingAuto Parts.) Read the requirements