E5-7 (Lo3) EXCEL (Current Assets Section of the Balance Sheet) Presented below are selected Company at December 31, 2017. 52,000Cost of Goods Sold $2,100,000 Equipment Inventory (work in process) Cash Debt Investments (short-term) Customer Advances Restricted Cash for Plant Expansion 90,000 Notes Receivable Accounts Receivable 253,000 161,000 207 000 34,000 37,000 Supplies Expense 31,000 ance for Doubtful Accounts $0000Addiial Paidin Capital 18,000 50,000 Treasury Stock The following additional information is available. 1. Inventories are valued at lower-of-cost-or-market using LIFO 2. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $50 3. The short-term investments have a fair value of $29,000. (Assume they are tr 4. T 600. ading securities.) he notes receivable are due April 30, 2019, with interest receivable every April 30 The notes bear interest at6% (Hint: Accrue interest due on December 31, 2017.) 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $50,000 are pledged as Licenses are recorded net of accumulated amortization of $14,000. 6. 7. Treasury stock is recorded at cost. collateral on a bank loan. epare the current assets section of Yasunari Kawabata Company's December 31, 2017, balance sheet, with appropriate sclosures. structions Chanin Corooration is preparing its December 31, 2017, balance