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Can you fill out the given balance sheet with the information provided Culver Company includes in its trial balance for December 31 an item for
Can you fill out the given balance sheet with the information provided
Culver Company includes in its trial balance for December 31 an item for Accounts Receivable $808,340. This balance consists of the following items: Due from regular customers Refund receivable on prior year's income taxes (an established claim) Travel advance to employees Loan to wholly owned subsidiary Advances to creditors for goods ordered Accounts receivable assigned as security for loans payable Notes receivable past due plus interest on these notes Total $548,170 15,920 22,340 46,060 57,120 74,730 44,000 $808,340 Illustrate how these items should be shown in the balance sheet as of December 31. CULVER COMPANY Balance Sheet $Step by Step Solution
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