northeast auto parts

Homewc Question 7, EM5-34 (sim... HW Score: 0%, 0 of 7 points Part 1 of 2 O Points: 0 of 1 Save Northeast Auto Parts, a family-owned auto parts store, began January with $10,600 cash. Management forecasts that collections from credit customers will be $11,000 in January and $15,100 in February. The store is scheduled to receive $6,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ($13,300 in January and $14,100 in February) and selling and administrative expenses ($2,800 each month). 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 "o" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency) Northeast Auto Parts Cash Budget January and February January February Cash available Cash payments: Total cash payments Read the requirements, LA 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 4% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Cash available Cash payments: Print Done Total cash payment Less Ending cash balance