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Cullumber Inc. shows a balance of $533,820 in the Accounts Receivable account on December 31, 2023. The balance consists of the following: installment accounts
Cullumber Inc. shows a balance of $533,820 in the Accounts Receivable account on December 31, 2023. The balance consists of the following: installment accounts due in 2024 installment accounts due after 2024 $94,000 82,000 Overpayments to creditors 12,800 Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan 174,000 Advances to employees 70,020 Advance to subsidiary company (made in 2018) 101,000 $533,820 Show how the information above should be presented on the statement of financial position of Cullumber at December 31, 2023. Cullumber Inc. Current Assets Accounts Receivable Statement of Financial Position December 31, 2023 Installment Accounts Collectible Due In 2024 Installment Accounts Collectible Due After December 31, 2024 Advance to Subsidiary Company 19 $
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