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Nordic Corporation's credit sales in December, January, and February were $1,000, $2,000 and $3,000 respectively. Past experience shows that 50% of the receivable are paid
Nordic Corporation's credit sales in December, January, and February were $1,000, $2,000 and $3,000 respectively. Past experience shows that 50% of the receivable are paid in the month of sale and reminder in the following month. If January's beginning accounts receivable balance was $500, determine the ending accounts receivable balance at the end of January.
A. 500
B. 1000
C. 1500
D. 2000
E. 2500
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