Crossland Corporation reported sales on its income statement of $454,000. On the statement of cash flows, which used the direct method, sales adjusted to a cash basis were $483,500. Crossland Corporation reported the following account balances on its balance sheet for the year: Ending BalanceBeginning BalanceAccounts receivable$39,500? ? Prepaid expenses$15,900? $12,900? Inventory$21,800? $23,800? Based on this information, the beginning balance in accounts receivable was:
A. $69,000
B. $29,500
C. $59,000
D. $39,500
Answer: A
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________________ is best suited to a changing and complicated business environment.
Fill in the blank(s) with the appropriate word(s)
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