Question: E11-26A. (Learning Objectives 4, 5, 6: Computing amounts for the statement of cash flowsdirect method) Compute the following items for the statement of cash flows:

E11-26A. (Learning Objectives 4, 5, 6: Computing amounts for the statement of cash flows—direct method) Compute the following items for the statement of cash flows:

a. Beginning and ending Accounts Receivable are $25,000 and $21,000, respectively.

Credit sales for the period total $63,000. How much are cash collections from customers?

b. Cost of goods sold is $78,000. Beginning Inventory was $27,000, and ending Inventory balance is $29,000. Beginning and ending Accounts Payable are $11,000 and $8,000, respectively. How much are cash payments for inventory?

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