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Leichter 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 $$1,000.$ Leichter Auto Parts borrows as little as possible and pays back loans in quarterly installments of $$2,500,$ plus $5\%$ APR interest on the entire unpaid principal. The first payment occurs three months after the loan.

Requirements

Prepare Leichter Auto Parts' cash budget for January and February.

How much cash will Leichter Auto Parts borrow in February if collections from customers that month total $$14,200$ instead of $$15,200?$

Leichter Auto Parts, a family$-$owned auto parts store, began January with $$10,700$ cash. Management forecasts that collections from credit customers will be $$11,700$ in January and $$15,200$ in February. The store is schedulod to receive $$4,000$ cash on a business note receivable in January. Projected cash payments include inventory purchases $($$$12,700$ in January and $$14,000$ in February$)$ and selling and adrministrative expenses $($$$2,700$ each month$)$

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Requirement $1.$ Prepare Leichtor Auto Parts' cash budget for January and February

Prepare the cash budget by entering in the labels, then enter in the amounts for January tirst and February next. $($Complete all input fields. For entries with$)$ a $$0$ balance, make sure to enter $"0"$ in the appropriate cell. Use perentheses or a minus sign when entering a deficiency$)$

$\backslash$table$[[$Cash Budget$],[$January and February$],[$Cash available$],[$Cash payments$],[$Total cash payments$],[$Less$],[]]$