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Coronado Corporation has the following accounts included in its December 31, 2020, trial balance: Accounts Receivable $110,600, Inventory $293,500, Allowance for Doubtful Accounts $9,450, Patents
Coronado Corporation has the following accounts included in its December 31, 2020, trial balance: Accounts Receivable $110,600, Inventory $293,500, Allowance for Doubtful Accounts $9,450, Patents $72,500, Prepaid Insurance $9,590, Accounts Payable $81,200, and Cash $30,200. Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.) CORONADO CORPORATION Balance Sheet (Partial) For the Year Ended December 31, 2020 Current Assets Cash Accounts Receivable Less : Allowance for Doubtful Accounts Inventory Prepaid Insurance Total Current Assets $ 116,000 9,260 $ 36,200 106,740 229,400 9,590 $ 451,930
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