Lipman Auto Parts, a family-owned auto parts store, began January with $10,100 cash. Management forecasts that collections from credit customers will be $11,600 in January and $15,200 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ($14,400 in January and $13,500 in February) and selling and administrative expenses ($2,800 each month). 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 $2,000, plus 4% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. 1. Prepare Lipman Auto Parts's cash budget for January and February. 2. How much cash will Lipman Auto Parts borrow in February if collections from customers that month total $14,200 instead of $15,200? Cash Budget January and February January February Beginning cash balance 10100 Cash receipts from customers 11600 6500 Cash available 28200 Cash payments: Purchases of inventory 14400 13500 Selling and administrative expenses 2800 2800 17200 16300 Total cash payments Ending cash balance before financing 28200 Less: (17200) Ending cash balance Requirement 2. How much cash will Lipman Auto Parts borrow in February if collections from customers that month total $14,200 instead of $15,200? If cash collections in February are $14,200 instead of $15,200, the company will borrow $