9:36 1 < CamScanner 10-03-2022 21.35 Image Word yunements and to the right. Beginning balances Account Debit Credit Cash 20,000 Accounts receivable 9,000 Inventory 37,000 Accounts payable 11,500 Sales Cost of goods sold a Additional Information: The following occurred during 2020: Description Inventory purchased on account $Amount 90,000 b Cash paid to pay down accounts payable 87,500 C Sales to customers, on account 165,000 d Cash collections of accounts receivable 158,500 D e Cost of goods sold recognized 81,250 I use centrerences to compute it, you will earn 0 points. 1. Effect on net income 2. Net change in cash (cash flow) $Amount 2 points 2 points Requirement 2: Use the information to the left (columns a-d), to calculate the amounts for the following ending account balances as of December 31, 2020. Please use celeferences if you want partial credit. If your answer is incorrect and you did not use cell references to compute it, you will earn 0 points. Cash as of December 31, 2020 2 points Accounts receivable as of December 31, 2020 2 points 2 points Inventory as of December 31, 2020 Accounts payable as of December 31. 2020 g Add Sign Share Collage More