E16A-29 Computing cash flow items direct method Learning Objective 4 Appendix 16A 1 Cash Receipts from Cust. $66,000 Consider the following facts 2. Beginning and ending Accounts Receivable are $25.000 and $27,000 respectively. Credit sales for the period total $68.000 b. Cost of goods sold 15 $81,000 c. Beginning Merchandise Inventory balance is $25.000, and ending Merchandise Inventory balance is $26.000 d. Beginning and ending Accounts Payable are $13,000 and $10,000 respectively Requirements 1. Compute cash collections from customers 2. Compute cash payments for merchandise inventory BOTTITION