(SOLVED) Consider the following facts a Beginning and ending Accounts Receivable are


Question Description:

$19

Consider the following facts:
a. Beginning and ending Accounts Receivable are $25,000 and $27,000, respectively. Credit sales for the period total $68,000.
b. Cost of goods sold is $81,000.
c. Beginning Merchandise Inventory balance is $25,000 and ending Merchandise Inventory balance is $26,000.
d. Beginning and ending Accounts Payable are $13,000 and $10,000, respectively.
Requirements
1. Compute cash collections from customers.
2. Compute cash payments for merchandise inventory.

Answer

$19