Question 1 Show the calculations! Assume the company uses Direct Method a) Quincy Industries began the year with $46,700 in accounts receivable and ended the year with $31,900 in accounts receivable. If sales for the year were $687,000, What's amount of the cash collected from customers during the year? b) Cost of goods sold for Richie Corporation during 2019 was $480,000. Beginning inventory was $165,000 and ending inventory was $195,000. Beginning accounts payable was $61,500 and ending accounts payable was $72,000. How much cash was paid to suppliers during 2019? c) Stone Corporation reported the following information: December 2019 2018 Equipment (net) $130,000 $120,000 Purchased 35,000 Loss on sale of equipment 2,000 Amortization expense 3,000 What was the amount of the cash receipt from the sale? d) The beginning and ending balances of long-term debt for Rambler Corporation are $61,500 (beginning balance) and $35,400(ending balance), respectively. If cash payments of long-term debt are $35,100, how much new long-term debt was issued/borrowed during the year