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What is the ending balance of accounts receivable

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Problem - In 2016, a firm has Accounts Receivable with an ending balance of $4,000 and an Accounts Payable with an ending balance of $6,000. During 2017, the following transactions occurred:

I. Bought inventory worth $3,000 using credit

II. Sold goods for $10,000 receiving $8,000 in cash and charging $2,000 to a costumer's credit account

III. Received credit payment of $1,000 from a customer

IV. Paid $2,000 to creditors

Required - What is the ending balance of Accounts Receivable in 2017?

Reference no: EM132623213

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