| Score: 0.06 of 2 pts 1 of 2 (1 cumplele) HW Score: 0.98%, 0.06 016 pts E22A-36
ID: 2566794 • Letter: #
Question
| Score: 0.06 of 2 pts 1 of 2 (1 cumplele) HW Score: 0.98%, 0.06 016 pts E22A-36 (similar to) 1 Questian Help Ung Auto Pans, a famy-ownad auto parts stone, began January whh S10,300 cash. anagement forecasts that coliections from credlt customars wll be 511,900 in January and 514,500 n February. The store is scheduled 0 receve $8,000 cash on a business nore recevabl In January. Prajecterd cash payments inclute rventary purchass($16anary and $12 n Fuary) and seling and administratre expenes3200 each manth) (Cick the icon to view aedin atoul Ling Aulo Parls Raad the racuremants Ling Auto Parts Cash Budget January and February JanuaryFebruary More in cashslance Cash reraipts fram cshomers Ling Auto Parts's bank requlres a 310,000 minimum balance In tha store's checking account A the end of an month when the acccur balance falls Cash avalablo ef $1,000. Ling Auto Pants bunows as lille as poesible a pars back loans in quarterly Installments or $1,500, plus 4% APR nterest cnthe entire unpald princpal. The rst payment cccurs three months aer the oan. Cash payments Purchases of irwentor Print Dane Total cash payments Ending cash balance befcre financing Projected cash excess fdefclency) Ending cash halancc Choose from any list or enter any number in the input fiekds and then click Check Answer part remaining Clear A Check AnswerExplanation / Answer
cash budget
January
February
beginning cash balance
10300
11000
cash receipts from customers
11900
14500
cash receipts from notes receivables
8000
0
total cash available
30200
25500
cash payment
payment towards inventory
16000
12500
selling expenses
3200
3200
total cash payment
19200
15700
ending cash balance before financing
11000
9800
less minimum cash balance derised
10000
10000
projected cash excess/deficiency
1000
-200
bank financing
0
1000
ending cash balance before financing
11000
10800
cash budget
January
February
beginning cash balance
10300
11000
cash receipts from customers
11900
14500
cash receipts from notes receivables
8000
0
total cash available
30200
25500
cash payment
payment towards inventory
16000
12500
selling expenses
3200
3200
total cash payment
19200
15700
ending cash balance before financing
11000
9800
less minimum cash balance derised
10000
10000
projected cash excess/deficiency
1000
-200
bank financing
0
1000
ending cash balance before financing
11000
10800
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