Karen's Bakery received $480 of sugar and flour from its supplier and promised to pay for it next month. Karen should report: Accounts receivable of $480 on its balance sheet. Accounts payable of $480 on its income statement. Cash of $(480) on its balance sheet. Accounts receivable of $480 on its income statement. Accounts payable of $480 on its balance sheet. nothing, because cash hasn't been paid yet