Lipton Auto Parts, a family-owned auto parts store, began January with $10,000 cash. Management forecasts that collections fro cash on a business note receivable in January, Projected cash payments include inventory purchases ($12,300 in January and (Click the icon to view additional information about Lipton Auto Parts.) Read the requirements. Prepare the cash budget by entering in the labels, then enter in the amounts for January first and February next. (Complete all a minus sign when entering a deficiency.) Lipton Auto Parts Cash Budget January and February January February Cash available Cash payments: Total cash payments Los Ending cash balance Lipton Auto Parts Cash Budget January and February January February Beginning cash balance Cash available before financing Cash receipts from customers Cash receipt on note receivable Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Purchases of inventory Selling and administrative expenses Total effects of financing Ending cash balance * More Info Lipton 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. Lipton Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,000, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Print Done E22-34 (similar to) Question Help Lion Auto Parts atomly owned and passion, began Jenny w 50,000 cath Manager forecasts a colections from crocustomers wit $11,200 in January and $16.300 February. The store is scheduled to receive 55.000 cain on a business love in law. Procedih paymeroude wertory purchase (120) July 31,100 nFory and selling and anive (13400 ch month Click to view to Wormation about upon Auto Parts Read the require