List any errors you can find in the following partial balance sheet: Napa Vino Company Balance Sheet
Question:
List any errors you can find in the following partial balance sheet:
Napa Vino Company
Balance Sheet
December 31, 20Y9
Assets
Current assets:
Cash .................................................................................... $ 78,500
Notes receivable .................................................. $ 300,000...................
Less interest receivable ..............................................4,500 ...........295,500
Accounts receivable ...............................................$1,200,000 .................
Plus allowance for doubtful accounts .............................11,500 ........1,211,500
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1 The interest receivable should be reported separately as a current asset It should not be dedu...View the full answer
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Related Book For 
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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