K The following information is available for the Jenkins Manufacturing company for 2020. (Click the icon to view the information.) Requirement Assume that all raw materials are purchased on credit and all sales are credit sales. Compute the missing amounts above. Accounts receivable, January 1, 2020 Accounts payable, January 1, 2020 Raw materials, January 1, 2020 170,000 9,000 Work in process, January 1, 2020 30,000 Finished goods, January 1, 2020 71,000 Accounts receivable, December 31, 2020 110,000 Accounts payable, December 31, 2020 160,000 Raw materials, December 31, 2020 Work in process, December 31, 2020 55,000 Finished goods, December 31, 2020 Raw materials used in production Raw materials purchased Accounts receivable collections 47,000 70,000 160,000 Accounts payable payments Sales 76,000