Lipton 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 $14,700 in February. The store is scheduled to receive $7,000 cash on a business note receivable in January. Projected cash payments include inventory purchases (515,000 in January and $12,300 in February) and selling and administrative expenses ($3,200 each month). HINT: Begin with the beginning cash balance, and add the two sources of cash received to arrive at cash available. Note that any cash shortages will be made up for with financing (near bottom of budget). Click the icon to view additional information about Lipton Auto Parts.) Read the requirements Requirement 1. Prepare Lipton 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 input fields. For entries with a $0 balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency.) Lipton Auto Parts Cash Budget January and February February 11100 January 10100 11600 7000 14700 28700 25800 12300 Beginning cash balance Cash receipts from customers Cash receipt on note receivable Cash available Cash payments: Purchases of inventory Selling administrati expenses Total cash payments Ending cash balance before financing Less: Minimum cash balance desired Projected cash excess (deficiency) Total effects of financing 15000 3200 3200 18200 15500 11100 9000 10000 1100 0 1000 Ending cash balance Requirement 2. How much cash will Lipton Auto Parts borrow in February if collections from customers that month total $13,700 instead of $14,700? If cash collections in February are $13,700 instead of $14,700, the company will borrow