If the XYZ company reports a $355,000 balance of accounts receivable, the existence assertion means

a. There are no accounts receivable by XYZ that have not been included in the balance.

b. All the amounts making up the $355,000 balance will be collected in full, in cash.

c. All the amounts included in the $355,000 balance represent valid sales on account that are still outstanding and due to the company.

d. The receivables have not been sold to another company.