(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 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.) Now assume that on December 31, 2023, Carla Vista enters into the following transactions related to the company's receivables: 1. Carla Vista sells the note receivable to Prairie Bank for $50,000 cash plus accrued interest. Given the creditworthiness of Carla Vista's customer, the bank accepts the note without recourse and assesses a finance charge of 3.10\%. Prairie Bank will collect the note directly from the customer. 2. Carla Vista factors some accounts receivable at the end of the year. Accounts totalling $35,000 are transferred to Tamarisk, Inc., with recourse. Tamarisk retains 7\% of the balances and assesses a finance charge of 3% on the transfer. Tamarisk will collect the receivables from Carla Vista's customers. The fair value of the recourse obligation is $4,400. Prepare the journal entry to record the transfer of the note receivable to Prairie Bank. (Round answers to 0 decimal places, e.g. 8,971. Credit account 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 0 for the amounts. List all debit entries before credit entries.)