Lipman Auto Parts, a family-owned auto parts store, began January with $10,700 cash. Management forecasts that collections from credit customers will be $11,400 in January and $15,400 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases (\$14,300 in January and $13,200 in February) and selling and administrative expenses ($3,300 each month). (Click the icon to view additional information about Lipman Auto Parts.) Read the requirements. More info Lipman 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. Lipman Auto Parts borrows as little as possible and pays back loans in quarterly installments of $1,500, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Requirements 1. Prepare Lipman Auto Parts' cash budget for January and February. 2. How much cash will Lipman Auto Parts borrow in February if collections from customers that month total $14,400 instead of $15,400 ? Requirement 1. Prepare Lipman Auto Parts' cash budget for January and February. appropriate cell. Use parentheses or a minus sign when entering a deficiency.) Cash payments: Total cash payments Less: Ending cash balance