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Wakanda Corp. began operations in January 2020. During the first quarter, Wakanda made $80,000 of inventory purchases from suppliers and had sales to customers totaling

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Wakanda Corp. began operations in January 2020. During the first quarter, Wakanda made $80,000 of inventory purchases from suppliers and had sales to customers totaling $120,000. One half of the sales were cash sales, and the other half were credit sales, where customers have 90 days to pay the account. By the end of the first quarter, none of these customers had paid their accounts. Wakanda estimates that 90% of its credit sales will eventually be collected while the remaining 10% will default. What amount will Wakanda report for Accounts Receivable on its first- quarter balance sheet? (just enter the number, without any commas or a dollar sign) Genovia Corp. had the following on December 31, 2020: Cash on hand (physical bills in a safe): $9,000 Checking account balance: $4,500 One-year certificate of deposit (CD): $7,500 Checks received but not yet deposited: $2,500 Checks sent by customers that are still in the mail: $6,000 Stock investments: $4,000 How much cash will Genovia report on its December 31, 2020, balance sheet? (just enter the number, without any commas or a dollar sign)

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