please answer do not image . Consider the following facts:a. Beginning and ending Accounts Receivable are $25,000 and $27,000, respectively. Credit sales for the period total $62,000.b. Cost of goods sold is $81,000.c. Beginning Merchandise Inventory balance is $24,000, and ending Merchandise Inventory balance is $19,000.d. Beginning and ending Accounts Payable are $10,000 and $8,000, respectively.Requirements1. Compute cash collections from customers.2. Compute cash payments for merchandise inventory.GILLARequirement 1. Compute cash collections from customers.Select the labels and enter the amounts to compute cash collections from customers. (Abbreviations used: Beg. = Beginning.End. = Ending.)11=HECash receiptsfrom customersRequirement 2. Compute cash payments for merchandise inventory.Select the labels and enter the amounts to compute cash payments for merchandise inventory. (Abbreviations used: A/P =Accounts Payable, A/R = Accounts Receivable; Beg. = Beginning: COGS = Cost of Goods Sold; End. = Ending: Inv. = Inventory.Merch. = Merchandise.)=Cash paid formerch. inv.

Name: please answer do not image . Consider the following facts:a. Beginning
Uploaded: 2024-03-04T10:43:15.000Z
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Description: please answer do not image . Consider the following facts:a. Beginning and ending Accounts Receivable are $25,000 and $27,000, respectively. Credit sales for the period total $62,000.b. Cost of goods sold is $81,000.c. Beginning Merchandise Inventory