Carla Vista Co. follows ASPE. It manufactures sweatshirts for sale to athletic-wear retailers. The following summary information was available for Carla Vista for the year ended December 31, 2022: (a) Your answer is correct. Part 1 During 2023, Carla Vista had the following transactions: 1. Total sales were $480,000. Of the total sales amount, $280,000 was on a credit basis. 2. On June 30 , a $50,000 account receivable of a major customer was settled, with Carla Vista accepting a $50,000, oneyear, 12% note, with the interest payable at maturity. 3. Carla Vista collected $180,000 on accounts receivable during the year. 4. At December 31,2023 , Cash had a balance of $16,000, Inventory had a balance of $79,000, Accounts Payable was $71,000, and Accrued Liabilities was $16,000. Prepare summary journal entries to record the items noted above. (Round answers to 0 decimal places, e.g. 8,971. Credit accoun titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) (To record interest accrued) List of Accounts sed b1) Your answer is incorrect. Calculate the current ratio and the receivables turnover ratio for Carla Vista at December 31, 2023. (Round answers to 2 decimal places, e.g. 1.25.) Current Ratio Accounts Receivable Turnover times