Crossland Corporation Reported Sales on Its Income Statement of $435,000

Multiple Choice

Crossland Corporation 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 Corporation reported the following account balances on its balance sheet for the year: Based on this information, the beginning balance in accounts receivable was:

A) $50,000
B) $40,000
C) $30,000
D) $20,000