Consider the following facts: a. Beginning and ending Accounts Receivable are $23,000 and $27,000, respectively. Credit sales for the period total $69,000. b. Cost of goods sold is $76,000. c. Beginning Merchandise Inventory balance is $22,000, and ending Merchandise Inventory balance is $25,000. d. Beginning and ending Accounts Payable are $16,000 and $12,000, respectively. Requirements 1. Compute cash collections from customers. 2. Compute cash payments for merchandise inventory. Requirement 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: Requirement 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 for = merch. inv. =