X E22-34 (similar to) Question Help Laly Auto Parts, a family owned auto parts store, began January with $10,000 cash. Management forecasts that collections from credit customers will be $11,800 in January and $4,500 in February. The store is scheduled to receive $7,000 cash on a business role receivable in January. Projected cash payments include inventory purchases (15,100 in January and $13.500 in February and selling and administrative expenses ($2,700 each month Click the icon to view additional information about Lally Auto Parts.) Read the requirements Requirement 1. Prepare Lally 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 bous. For entries with a 50 balance, make sure to enter in the appropriate cel. Uue parentes de Lally Auto Parts Cash Budget More Info January and February January February Lally Auto Parts's bank rogures a $10,000 minimum balance in the store's checking account. At the end of anymorth when the count balance falls below $10,000, the bank wtomatically extends credit to the store in multiples of $1.000 Lally Auto Parts Borows as little as possible and pays back loans in quarterly installment of $3,000, plus 5% APR interest on the entire unpaid principal. The first payment course months to the loan Cash available Cash payments Requirements Total cash payments 1. Prepare Laly Auto Parts's cash but for January and February 2. How much cash wil Laly Auto Parts borrow in February i collection from customers the month $13.500 instead of 14.007 Less Done Choose from any or enter any number in the input fields and then click Check Answer Check Arew Clear Al 1 part remaining MacBook Pro 8 / complete) E22-34 (similar to) Lally Auto Parts, a family-owned auto parts store, began January with $10,000 cash. Management forecasts that collections from credit customers will be $11,800 in January and cash on a business note receivable in January, Projected cash payments include inventory purchases ($15,100 in January and $13,500 in February) and selling and administrative (Click the icon to view additional information about Lally Auto Parts.) Read the requirements minus sign when entering a deficiency.) Lally Auto Parts Cash Budget January and February January February More Info Cash available Cash payments: Lailly Auto Parts's bank requires a $10,000 minimum balance in the checking account. At the end of any month when the account balar $10,000, the bank automatically extends credit to the store in multi Lally Auto Parts borrows as little as possible and pays back loans installments of $3,000, plus 5% APR interest on the entire unpaid first payment occurs three months after the loan Total cash payments Requirements Less: 1. Prepare Lally Auto Parts's cash budget for January and Februar 2. How much cash wil Lally Auto Parts borrow in February if collect customers that month total $13,500 instead of $14,500? Ending cash balance Print Done Choose from any list or enter any number in the input fields and then click Check Answer. Clear All 1 part remaining MacBook Pro pis Question Help with $10,000 cash. Management forecasts that collections from credit customers will be $11,800 in January and $14,500 in February. The store is scheduled to receive $7,000 yments include inventory purchases ($15,100 in January and $13,500 in February) and selling and administrative expenses ($2,700 each month). Parts.) anuary February * More Info Lally 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 fails below $10,000, the bank automatically extends credit to the store in multiples of $1,000 Lally Auto Parts borrows as little as possible and pays back loans in quarterly installments of $3,000 plus 5% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Requirements 1. Prepare Lally Auto Parts's cash budget for January and February 2. How much cash will Lally Auto Parts borrow in February if collections from customers that month total $13,500 instead of $14,5007 Print Done and then click Check Answer Clear All Check Answer MacBook Pro