Question
1.Sean's trial balance has the following selected items: Cash (includes $10,000 in a bond sinking fund for long-term bond payables)$50,000 Accounts receivable20,000 Allowance for doubtful
1.Sean's trial balance has the following selected items:
Cash (includes $10,000 in a bond sinking fund
for long-term bond payables)$50,000
Accounts receivable20,000
Allowance for doubtful accounts5,000
Deposits received from customers3,000
Merchandise inventory7,000
Unearned rent1,000
Investment in Trading Securities2,000
What amount should Sean report as total current assets in its balance sheet?
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
