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View History Bookmarks People Tab Window Help ... D X 60% Do Homework - Ryan Simpson mathxl.com/Student/PlayerHomework.aspx?homeworkld=553969323&questionld=4&flushed=false&cld=5854184¢erwin=yes re BUS 222 Managerial Accounting Spring 2020 8:30 Ryan Simpson & | 03/01/20 1:34 PM Homework: Chapter 22 Homework Save Score: 0 of 1 pt 4 of 6 (4 complete) HW Score: 50.98%, 3.06 of 6 pt E22-34 (similar to) Question Help Lally Auto Parts, a family-owned auto parts store, began January with $10,300 cash. Management forecasts that collections from credit customers will be $11,800 in January and $15,000 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ($14,500 in January and $13,100 in February) and selling and administrative expenses ($3, 100 each month). i (Click the icon to view additional information about Lally Auto Parts.) Read the requirements. Requirement 1. Prepare Lally 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 $0 balance, make sure to enter "0" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency.) Lally Auto Parts More Info X Beginning cash balance Lally Auto Parts's bank requires a $10,000 minimum balance in the store's Cash receipts from customers 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. Cash receipt on note receivable Lally Auto Parts borrows as little as possible and pays back loans in quarterly installments of $3,000, plus 3% APR interest on the entire unpaid principal. The Cash available first payment occurs three months after the loan. Cash payments: Purchases of inventory Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? part remaining Clear All Check Answer 27,370 MAR O C PWle Edit View History Bookmarks People Tab Window Help gnments Do Homework - Ryan Simpson D X 60% "mathxl.com/Student/PlayerHomework.aspx?homeworkld=553969323&questionld=4&flushed=false&cld=5854184¢erwin=yes Not Secure BUS 222 Managerial Accounting Spring 2020 8:30 Ryan Simpson & | 03/01/20 1:34 PM Homework: Chapter 22 Homework Save nting Score: 0 of 1 pt 4 of 6 (4 complete) HW Score: 50.98%, 3.06 of 6 pts E22-34 (similar to) Question Help Lally Auto Parts, a family-owned auto parts store, began January with $10,300 cash. Management forecasts that collections from credit customers will be $11,800 in January and $15,000 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ($14,500 in January and $13,100 in February) and selling and administrative expenses ($3, 100 each month). i (Click the icon to view additional information about Lally Auto Parts.) Read the requirements. Beginning cash balance Cash receipts from customers Cash receipt on note receivable Cash available Cash payments: Purchases of inventory Selling and administrative expenses Total cash payments Ending cash balance before financing Less: Minimum cash balance desired Projected cash excess (deficiency) Total effects of financing Ending cash balance (? Choose from any list or enter any number in the input fields and then click Check Answer. Check Answer part Clear All remaining 27,370 1 AOLPW DI DD F11 20 F7 F3 F4 F5 @ 3 5 6 8 9 2
