The statement of financial position debit column of the worksheet for Kren Company includes the following accounts:

Question:

The statement of financial position debit column of the worksheet for Kren Company includes the following accounts: Accounts Receivable £12,500; Prepaid Insurance £3,600; Cash £6,700; Supplies £5,200; and Short-Term Investments £4,900. Prepare the current assets section of the statement of financial position, listing the accounts in proper sequence.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...