Lipman Auto Parts, a family-owned auto parts store, began January with $10,700 cash. Management forecasts that collections from credit customers will be $11,300 in January and $14,800 in February. The store is scheduled to receive $4,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ($12,600 in January and $13,300 in February) and selling and administrative expenses ($3,000 each month). (Click the icon to view additional information about Lipman Auto Parts.) Read the requirements Requirement 1. Prepare Lpman 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 answer boxes. For entries with a S0 balance, make sure to enter "0 in the appropriate cell. Use parentheses or a minus sign when entering a deficiency) Lipman Auto Parts Cash Budget January and February January February Canh availatie Cash paymert Choose from any st or enter any number in the input fields and men continue so the next queston Read the requirements Cash available Cash payments: Total cash payments Less: Ending cash bealance Requirement 2. How much cash will Lipman Auto Parts borrow in February if col ctions from customers that month total $13,800 instead of $14,800? If cash collections in February are $13,800 instead of $14,800, the company will rrow $ Chones X More Info Lipman Auto Parts's 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 $2,500, plus 5% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Print Done w in February if collections from customers that month total $13.800 instead of $14.800