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.)

Northeast Auto Parts, a family-owned auto parts store, began January with $11,000 cash. Management forecasts that collections from credit customers will be $11,100 in January and $15,300 in February. The store is scheduled to receive $6,000 cash on a business note receivable in January. Projected cash payments include inventory purchases (514,300 in January and $14,000 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 "0" in the appropriate cell. Use parentheses or a minus sign when entering a deficiency.) Northeast Auto Parts Cash Budget January and February January February - X Requirements Cash available - X More Info Cash payments: 1. Prepare Northeast Auto Parts' cash budget for January and February 2. How much cash will Northeast Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? Print Done Total cash payments 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 $3,000, plus 3% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Less Print Done Ending cash balance Choose from any list or enter any number in the input fields and then click Check