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Accounts Receivable started off with a balance of $1000 Inventory started off with a balance...

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Accounting

Accounts Receivable started off with a balance of $1000

Inventory started off with a balance of $1800

Smith Foods sub ledger started off with a balance of 50.

Sold $500 to Smith Foods our cost 375

Sold $700 to Smith Foods our cost 525

Received payment from Smith Foods of $1200

Sold to $1000 to Smith Foods our cost 750

What is the ending balance of the inventory account, accounts receivable account and what is our Gross Profit? Show your work. (T accounts)

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