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Southweet Auto Parts, a family-owned auto parts store, began January with $10,200 cash. Management forecasts that collections from credit customers will be Requirements January and $15,300 in February. The store is scheduled to receive $8,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ($16,200 in January and $14, 100 in February) and selling and administrative expenses ($2,700 each month). (Click the icon to view additional information about Southwest Auto Parts.) Read the requirements. Requirement 1. Prepare Southwest Auto Parts's cash budget for January and February. Prepare the cash budget by entering in the labels, then enter in the amounts 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.) Southwest Auto Parts Cash Budget January and February January February Cash available Cash payments: Southwest Auto Parts, a family-owned auto parts store, began January with $10,200 cash. Management forecasts that collections from credit customers will be $11,200 in January and $15,300 in February. The store scheduled to receive $8,000 cash on a business note receivable in January. Projected cash payments include inventory purchases ($16,200 in January and $14,100 in February) and selling and administrative expenses ($2,700 each month). i (Click the icon to view additional information about Southwest Auto Parts.) Read the requirements. Cash available Cash payments: i More Info Total cash payments Southwest Auto Parts's bank requires a $10,000 minimum balance 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 $2,000, plus 4% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Less: Print Done Ending cash balance Requirement 2. How much cash will Southwest Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? If cash collections in February are $14,300 instead of $15,300, the company will borrow Choose from any list or enter any number in the input fields and then continue to the next question. ? i Requirements 1. Prepare Southwest Auto Parts's cash budget for January and February. 2. How much cash will Southwest Auto Parts borrow in February if collections from customers that month total $14,300 instead of $15,300? Print Done

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