Crossland Company reported sales on its income statement of $435,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $455,000. Crossland Company reported the following account balances on its balance sheet for the year:
| Account Don't use plagiarized sources. Get Your Custom Essay on based on this information the beginning balance in accounts receivable was 641385 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | Ending | Beginning |
| Accounts receivable | $30,000 | ? |
| Prepaid expenses | $14,000 | $11,000 |
| Inventory | $18,000 | $20,000 |
Based on this information, the beginning balance in accounts receivable was:
A) $50,000
B) $40,000
C) $30,000
D) $20,000
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