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Lipton Auto Parts, a family - owned auto parts store, began January with $10,800 cash...

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Accounting

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Lipton Auto Parts, a family - owned auto parts store, began January with $10,800 cash Management forecasts that collections from credit customers will be $11,200 in January and $14,900 in February. The store is scheduled to receive $6,500 cash on a business note receivable in January. Projected cash payments include inventory purchases ( $14,800 in January and $13,800 in February) and selling and administrative expenses ($2,700 each month) (i) (Click the icon to view additional information about Lipton Auto Parts.) Read the requirements Requirements 1. Prepare Lipton Auto Parts' cash budget for January and February 2. How much cash will Lipton Auto Parts borrow in February if collections from customers that month total $13,900 instead of $14,900

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