Crossland Corporation reported sales on its income statement of $443,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $467,000. Crossland Corporation reported the following account balances on its balance sheet for the year:

	Ending Balance			Beginning Balance
Accounts receivable	$	34,000			?
Prepaid expenses	$	14,800		$	11,800
Inventory	$	19,600		$	21,600

Based on this information, the beginning balance in accounts receivable was:

Multiple Choice

• $58,000

• $48,000

• $34,000

• $24,000