Cash\ $40,200 \ Accounts payable\ $62,590\ Accounts receivable\ $90,900 \ Notes payable\ 71,980\ Less: Allowance for doubtful accounts\ 7,330 83,570 $134,570\ Inventory\ 172,890 \ Prepaid expenses\ 9,720 \ $306,380 \ \ The following errors in the corporations accounting have been discovered:\ \ 1. January 2026 cash disbursements entered as of December 2025 included payments of accounts payable in the amount of $41,300, on which a cash discount of 2% was taken.\ 2. The inventory included $28,440 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,670 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30.\ 3. Sales for the first four days in January 2026 in the amount of $30,480 were entered in the sales journal as of December 31, 2025. Of these, $23,360 were sales on account and the remainder were cash sales.\ 4. Cash, not including cash sales, collected in January 2026 and entered as of December 31, 2025, totaled $35,324. Of this amount, $23,324 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.\