Crossland Corporation reported sales on its income statement of $448,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $474,500. Crossland Corporation reported the following account balances on its balance sheet for the year:

	Ending Balance			Beginning Balance
Accounts receivable	$	36,500			?
Prepaid expenses	$	15,300		$	12,300
Inventory	$	20,600		$	22,600

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

Multiple Choice

• $63,000

• $53,000

• $36,500

• $26,500