ECA-29 (similar to) Consider the following facts: a. Beginning and ending Accounts Receivable are $27,000 and $26,000, respectively. Credit sales for the period total $70,000 b. Cost of goods sold is $75,000. c. Beginning Merchandise Inventory balance is $27,000, and ending Merchandise Inventory balance is $21,000. d. Beginning and ending Accounts Payable are $12,000 and $11,000, respectively. Requirements 1. Compute cash collections from customers. 2. Compute cash payments for merchandise inventory. Select the labels and enter the amounts to compute cash collections from customers. (Abbreviations used: Beg. Beginning: End. Cash receipts - from customers Choose from any list or enter any number in the input fields and then click Check Answer. Clear All part remaining 1 5 ECA-29 (similar to Consider the following facts: a. Beginning and ending Accounts Receivable are $27.0 and $26.000, respectively. Credit sales for the period total $70,000. b. Cost of goods sold is $75,000. c. Beginning Merchandise Inventon Beg. Accounts Payable d. Beginning and ending Accounts Beg. Accounts Receivable respectively. Merchandise Inventory balance is $21,000. Beg. Merchandise Inventory Requirements 1. Compute cash collections from Cost of Goods Sold Compute cash payments for m End. Accounts Payable 2. End. Accounts Receivable Select the labels and enter the amou End. Merchandise Inventory om customers. (Abbreviations used: Beg. Beginning: End.-E Sales Revenue Cash receipts - from customers Choose from any list or enter any number in the input fields and then click Check Answer. part remaining Clear All