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Construct the current assets sections of the balance sheet from the following data (use cash as a plug figure after computing the other values) use
Construct the current assets sections of the balance sheet from the following data (use cash as a plug figure after computing the other values) use a 360 day year, do not round intermediate calculations)
yearly sales (credit) 570,000
inventory turnover 10 times
current liabilities 97,000
current ratio 2
average collection period 36 days
current assets:
cash __________________
accounts receivable ___________
inventory _________________
total current assets ______________
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