Hopeful Company is a new company. During its first year of operation: Customers ordered $50,000 of goods on account $40,000 of the goods ordered were delivered Customers paid $34,000 on account (taking advantage of a cash discounts of $1,000 from the invoiced amounts recorded originally in accounts receivable) Customers returned damaged goods and were refunded $2,000 The balance of Account Receivable at the end of the year is: $5,000 None of the other alternatives are correct $3,000 $4,000 $16,000