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Cheyenne Company shows a balance of $227.130 in the Accounts Receivable account on December 31, 2020. The balance consists of he following $24,100 34,500 Installment
Cheyenne Company shows a balance of $227.130 in the Accounts Receivable account on December 31, 2020. The balance consists of he following $24,100 34,500 Installment accounts due in 2021 Installment accounts due after 2021 Overpayments to vendors Due from regular customers, of which $40,660 represents accounts pledged as security for a bank loan Advances to employees Advance to subsidiary company (due in 2021) 3.140 82.600 1.590 81.200 Illustrate how the information above should be shown on the balance sheet of Cheyenne Company on December 31, 2020. Assume that installment accounts collectible due after December 31, 2018 (Customers) are collectible within the operating cycle of the business. The company's operating cycle is such that all installment receivables are classified as current CHEYENNE COMPANY Balance Sheet (Partial)
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