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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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