Accounts receivable, January 1, 2019 |
$ 40,000 |
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Accounts receivable collected during 2019 |
84,000 |
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Cash sales during 2019 |
20,000 |
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Inventory, January 1, 2019 |
48,000 |
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Inventory, December 31, 2019 |
44,000 |
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Purchases of inventory during 2019 |
80,000 |
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Gross profit on sales |
42,000 |
What is Sanchez’s accounts receivable balance at December 31, 2019?
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