During its first year of operations, Oriole Company had credit sales of $3,341,700; $666,000 remained uncollected at year-end. The credit manager estimates that $35,700 of these receivables will become uncollectible.

Prepare the current assets section of the balance sheet for Oriole Company. Assume that in addition to the receivables it has cash of $92,500, inventory of $133,700, and prepaid insurance of $8,700. (List Current Assets in order of liquidity.)

Prepare the current assets section of the balance sheet for Oriole Company. Assume that in addition to the Current Assets in order of liquidity.) ORIOLE COMPANY Balance Sheet (Partial) Current Assets Cash 92500 Accounts Receivable 92500 Less v 35700 56800 Allowance for Doubtful Accounts Inventory 133700 Prepaid Insurance 8700 Total Current Assets 199200 Click if you would like to Show Work for this question: O