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appropriate cell. Use parentheses or a minus sign when entering a deficiency.) More info Lim Auto Parts' 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 $3,000, plus 5% APR interest on the entire unpaid principal. The first payment occurs three months after the loan. Requirements 1. Prepare Lim Auto Parts' cash budget for January and February 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,000 instead of $15,000 ? Lim Auto Parts Cash Budget January and February Lim Auto Parts, a family-owned auto parts store, began January with $10,200 cash. Management forecasts that collections from credit customers will be $11,900 in January and $15,000 in February. store is scheduled to receive $6,000 cash on a business note receivable in January. Projected cash payments include inventory purchases (\$14,500 in January and \$12,900 in February) and selling and administrative expenses ($3,100 each month). (Click the icon to view additional information about Lim Auto Parts.) Read the requirements. Requirements 1. Prepare Lim Auto Parts' cash budget for January and February 2. How much cash will Lim Auto Parts borrow in February if collections from customers that month total $14,000 instead of $15,000