Chapter 5 Homework Question 6 of 6 -/8 i PHAROAH COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2020 Cash $ 44,300 Accounts payable 5 58,160 Accounts receivable $94,400 Notes payable 66.420 Less. Allowance for doubtful accounts 7.400 87.000 $124580 174,040 Inventory Prepaid expenses 9.210 $314.550 The following errors in the corporation's accounting have been discovered: 1. 2 January 2021 cash disbursements entered as of December 2020 included payments of accounts payable in the amount of $39.900, on which a cash discount of 2% was taken The inventory included $30,450 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered of this amount 512920 had been received on contignment, the remainder was purchased ob destination terms 2/10, 1/30 Sales for the test four days in January 2021 in the amount of $28.760 were entered in the sales Journal as of December 31 2020. Of these, $25.910 were sales on account and the remainder were cash sales Cash, not including cash sales, collected in January 2021 and entered as of December 31, 2020, totaled $33.168. Of this amount, $21.168 was received on account after cash discounts of 2% had been deducted the remainder represented the proceeds of a bank loan 3. 4 Question 6 of 6 (a1) Calculate the following adjusted balances. Cash $ Accounts Receivable $ Inventory $ Accounts Payable $ Notes Payable $ e Textbook and Media List of Accounts Save for Later Attempts: 13 NA w