Northeast Auto Parts, a family-owned auto parts store, began January with $10,300 cash. Management forecasts that collections from credit customers will be S11,800 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 ($15,300 in January and $12,600 in February) and selling and administrative expenses ($3,300 each month). (Click the icon to view additional information about Northeast Auto Parts.) Read the requirements. January and February January February Beginning cash balance Cash receipts from customers Cash receipt on note receivable Cash available Cash payments: Purchases of inventory i Requirements Selling and administrative expenses 1. Prepare Northeast Auto Parts's cash budget for January and February. 2. How much cash will Northeast Auto Parts borrow in February if collections from customers that month total $13,700 instead of $14,700? Print Done Total cash payments Ending cash balance before financing Less Minimum cash balance desired Projected cash excess (deficiency) Total effects of financing Ending cash balance