Tre owns his own business selling drums. Tre prefers to sell the drum kits for...
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Accounting
Tre owns his own business selling drums. Tre prefers to sell the drum kits for cash, but occasionally will sell on credit to people he trusts. On January 1, 2020, Tre has Accounts Receivable of $20,000. During the year, he sold a total of $120,000 worth of drums and collected $90,000 in total cash. What are Tres Accounts Receivable on December 31, 2020?
Group of answer choices
$0
$20,000
$50,000
No way to figure this out
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