Question 8, CPM7-56 (book/static) HW Sci Part 1 of 4 O Pol nt Computer Company began January with $15,000 cash. Management forecasts the following cash receipts on to view the information) ments More info Prepa ut field ancing Calanc Management forecasts that cash receipts from credit customers will be $48,000 in January and $51,000 in February. Projected cash payments include equipment purchases ($20,000 in January and $41,000 in February) and selling and administrative expenses ($2,000 each month). Piedmont Computer Company's bank requires a $26,000 minimum balance in the firm's checking account. At the end of any month when the account balance falls below $26,000, the bank automatically extends credit to the firm in multiples of $5,000. Piedmont Computer Company borrows as little as possible and pays back loans each month in $1,000 increments, plus 12% interest on the entire unpaid principal. The first payment occurs one month after the loan. diture dminis nse ants ance before financing Get more help- $ 54 4 13 dtv Print Done MacBook Pro G Search or type URL % 25 96 A Xx &7 * 7 8 61 9