The following information from Jumbo Company's first year of operations is to be used in testing the accuracy' ofAccounts Receivable. The December 31, 2002, balance is \($33,500\).

(a) Collections from customers, \($72,000\).

(b) Merchandise purchased. \($98,000\).

(c) Ending merchandise inventory. \($23,500\).

(d) Goods sell at 50% above cost.

(e) All sales are on account.

Compute the balance that Accounts Receivable should show and determine the amount of any shortage or overage.