Northeast Auto Parts, a family-owned auto parts store, began January with $10,200 cash. Management forecasts that collections from credit customers will be $11,800 in January and $14,700 in February. The store is scheduled to receive $8,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ( $15,500 in January and $12,600 in February) and selling and administrative expenses (\$3,500 each month). (1) (Click the icon to view additional information about Northeast Auto Parts.) Read the requirements. Requirement 1. Prepare Northeast Auto Parts' 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.) More info Northeast 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. Northeast Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,000, plus 3% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. 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 n January with $10,200 cash. Man iry. The store is scheduled to rece ses ($15,500 in January and $12,6 veast Auto Parts.) for January and February. r in the amounts for January first ar opriate cell. Use parentheses or a Cash available Cash payments: Total cash payments