Brief Exercise 6-31 (Algo) Contract assets and contract liabilities [LO6-8] Holt Industries received a $2,300 prepayment from the Ramirez Company for the sale of new office furniture. Holt will bill Ramirez an additional $3,500 upon delivery of the furniture to Ramirez.. Upon receipt of the $2,300 prepayment, how much should Holt recognize for a contract asset, a contract liability, and accounts receivable? (Leave no cells blank - be certain to enter "O" wherever required.) Contract asset Contract liability Accounts receivable