ABC Company had the following transactions during January:

1.Jan 1Issued $100,000 in stock to owners in exchange for cash to start the business.

2.Jan 5Borrowed $50,000 from a friend to be paid back in future.

3.Jan 6Gave 5,000 on his own to a friend to be received back in future.

4.Jan 10Purchase equipment by paying cash for $25,000.

5.Jan 15Paid January rent of $2,400for the office space (hint:since this is for January, record as rent expense)

6.Jan 18 Performed services for customers and received cash immediately for $8,000.

7.Jan 20Purchased $2,000 in supplies on account.

At the end of month of January, the balance in account receivable should be

Select one:

a. 50,000

b. 45,000

c. 56,000

d. 55,000