Score: U of 2 pts 7 of 7 (7 complete) X E22-34 (similar to) Southwest Auto Parts, a family-owned auto parts store, began January with $10,800 cash. Management forecasts that collections from credit custom $4,000 cash on a business note receivable in January, Projected cash payments include inventory purchases ($12.400 in January and $12,200 in F A (Click the icon to view additional information about Southwest Auto Parts.) Read the requirements Southwest Auto Parts Cash Budget January and February January February $ $ Beginning cash balance Cash receipts from customers 10,800 11,100 4,000 10,500 14,500) Cash receipt on note receivable 25,900 25,000 Cash available Cash payments: Purchases of inventory Selling and administrative expenses 12,400 3,000 15,400 12,200 3,000 15,200 Total cash payments Ending cash balance before financing Less: Minimum cash balance desired Projected cash excess (deficiency) Total effects of financing 10,500 (10,000) (10,000) 500 Ending cash balance 10,500 Choose from any list or enter any number in the input fields and then click Check Answer. part Clear All nuary 10,800 * More Info 11,100 4.000 25,900 Southwest Auto Parts's 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. Southwest 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. 12,400 3,000 Print Done 15,400 10,500 0,000) 500 (10,000) 0 10,500 Score: U of 2 pts 7 of 7 (7 complete) X E22-34 (similar to) Southwest Auto Parts, a family-owned auto parts store, began January with $10,800 cash. Management forecasts that collections from credit custom $4,000 cash on a business note receivable in January, Projected cash payments include inventory purchases ($12.400 in January and $12,200 in F A (Click the icon to view additional information about Southwest Auto Parts.) Read the requirements Southwest Auto Parts Cash Budget January and February January February $ $ Beginning cash balance Cash receipts from customers 10,800 11,100 4,000 10,500 14,500) Cash receipt on note receivable 25,900 25,000 Cash available Cash payments: Purchases of inventory Selling and administrative expenses 12,400 3,000 15,400 12,200 3,000 15,200 Total cash payments Ending cash balance before financing Less: Minimum cash balance desired Projected cash excess (deficiency) Total effects of financing 10,500 (10,000) (10,000) 500 Ending cash balance 10,500 Choose from any list or enter any number in the input fields and then click Check Answer. part Clear All nuary 10,800 * More Info 11,100 4.000 25,900 Southwest Auto Parts's 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. Southwest 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. 12,400 3,000 Print Done 15,400 10,500 0,000) 500 (10,000) 0 10,500
