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Googly had the following account balances at January 1, 2016: Advertising revenue $ 54,148 Cash 48,192 Accounts receivable 8,036 Interest expense 2,447 Accounts payable 5,320

Googly had the following account balances at January 1, 2016:

Advertising revenue

$ 54,148

Cash

48,192

Accounts receivable

8,036

Interest expense

2,447

Accounts payable

5,320

Operating expenses

43,860

Unearned revenue

1,370

Equipment

21,118

Income tax expense

2,707

The following activities occurred in 2016:

Performed advertising services on account, $64,050.

Received cash payments on account, $12,300.

Received deposits from customers for advertising services to be performed in 2017, $3,800.

Made payments to suppliers on account, $5,320.

Incurred $52,400 of operating expenses; $45,400 was paid in cash and $7,000 was on account and unpaid as of the end of the year.

What is the balance of Accounts Receivable at December 31, 2016?

a. $63,586

b. $59,786

c. $64,050

d. $51,750

e. None of the above; some other number is correct.

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