SCUTE! U UI 25 pis 5 of 5 (4 complete) LW SCUTE! 64.63%, 64.53 UI TUU PIS E22-34 (similar to) Question Help Lim Auto Parts, a family-owned auto parts store, began January with $10,300 cash. Management forecasts that collections from credit customers will be $11,800 in January and $15,300 in February. The store is scheduled to receive $5,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ($13,400 in January and $14,200 in February) and selling and administrative expenses ($2,700 each month). (Click the icon to view additional information about Lim Auto Parts.) Read the requirements. Requirement 1. Prepare Lim Auto Parts's 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 answer boxes. 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.) Lim Auto Parts Cash Budget January and February January February Cash available Cash payments: Choose from any list or enter any number in the input fields and then click Check Answer. Homework: Chapter 22 Homework Save 5 of 5 (4 complete) HW Score: 64.63%, 64.63 of 100 pts Score: 0 of 25 pts E22-34 (similar to) More Info - Question Help X Lim Auto Parts, a family-owned auto parts store, began Jail $5,000 cash on a business note receivable in January. Pro (Click the icon to view additional information about Lin $11,800 in January and $15,300 in February. The store is scheduled to receive ary) and selling and administrative expenses ($2,700 each month). Read the requirements. Lim 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. Lim Auto Parts borrows as little as possible and pays back loans in quarterly installments of $2,500, plus 6% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Requirement 1. Prepare Lim Auto Parts's cash budget for with a $0 balance, make sure to enter "0" in the appropriate cell. Use Prepare the cash budget by entering in the labels, then ent parentheses or a minus sign when entering a deficiency.) Print Done Lim Auto Parts Cash Budget January and February Requirements - X January 1. Prepare Lim Auto Parts's cash budget for January and February. 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? Cash available Cash payments: Print Done Choose from any list or enter any number in the input fields and then click Check
