ABC Company uses cash-basis accounting for its records. During 2010, ABC collected $400,000 from its customers, made payments of $300,000 to its suppliers for inventory, and paid $140,000 for operating costs. ABC wants to prepare accrual-basis financial statements. In gathering information for the accrual-basis financial statements, ABC discovered the following:

? Customers owed ABC $45,000 at the beginning of 2010 and $55,000 at the end of 2010.

? ABC owed suppliers $20,000 at the beginning of 2010 and $28,000 at the end of the 2010.

? ABC