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Crafters Stores reported $254,000 of Accounts Payable and $43,000 of Unearned Revenue on its March 31, 2023 balance Sheet. During April, the following transactions occurred:
Crafters Stores reported $254,000 of Accounts Payable and $43,000 of Unearned Revenue on its March 31, 2023 balance Sheet. During April, the following transactions occurred: April 1: Signed a 9-month, 3% note for $120,000. April 3: Paid suppliers $156,000 of what was owed on account. April 15: A neighboring firm filed a lawsuit against Crafters seeking $96,000 in damages for alleged pollution of a local water source. The case will not go to trial until July, 2023, and the Company's attorney feels the suit does not have merit, but it's reasonably possible that the Company will have to pay the plaintiff April 30: Accrued salaries and benefits earned by employees during the last week of the months and payable on May 5th were $18,000 April 30: It was determined that $16,200 of unearned revenue had been earned by the end of the month. Determine Total Current Liabilities on April 30, 2023
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