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During its first year of operations, Kingbird, Inc. had credit sales of $3,000,300, of which $401,500remained uncollected at year-end. The credit manager estimates that $18,830of
During its first year of operations, Kingbird, Inc. had credit sales of $3,000,300, of which $401,500remained uncollected at year-end. The credit manager estimates that $18,830of these receivables will become uncollectible.
Prepare the current assets section of the balance sheet for Kingbird, Inc., assuming that in addition to the receivables it has cash of $89,840, merchandise inventory of $165,430, and supplies of $11,750.(List current assets in order of liquidity)
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