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A Company had the following items in its books, as of December 31, 2020: Accounts Receivable - Php 500,000.00 Notes Receivable - Php 500,000.00 Creditor's
A Company had the following items in its books, as of December 31, 2020:
Accounts Receivable - Php 500,000.00
Notes Receivable - Php 500,000.00
Creditor's Account with debit balance - Php 100,000.00
Subscription Receivable - Php1,000,000.00
Advances to Employees - Php 100,000
Further information shows that:
1. 10% of the Accounts Receivable is worthless.
2. The Note Receivable is payable in five (5) equal annual installments beginning December 31, 2021.
3. The Subscription Receivable is due on December 15, 2022.
How much is the total current assets?
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