Compute the following items for the cash flow statement 1 The
Compute the following items for the cash flow statement:
1. The beginning and ending Accounts Receivable balances are $22,000 and $18,000, respectively. Credit sales for the period total $81,000. How much are cash collections?
2. Cost of Goods Sold is $90,000. Beginning Inventory balance is $25,000, and ending Inventory balance is $21,000. Beginning and ending Accounts Payable are $11,000 and $8,000, respectively. How much are cash payments for inventory?
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