Exercise 5-7 Presented below are selected accounts of Tamerisk Company at December 31, 2017 Inventary finished gooda) 57,100 Cot of Goods Sold 9,000 Notes Receivable 259,100 Accounts Receiwable 2,105,600 37,200 Inventory (work in process) Cash (not induding restricted cash) 42,600 Supplies Expense Debt Investments (trading) Customer Advanoe Restricted Cash for Plant Expansion50,800 Additional Paid-in Cepital 195,500 64,430 11,240 17,770 85,610 23,020 41,700 Tventory (raw matenals) 32.700 42.900 Allowance for Doubtful Accounts Licenses Treasury Stock The following additional information is available. 1. Inventories sre velued at lower-of-cost-cr-marlket using LITO. 2. Equipment is recorded at eat. Acmulated depre ation, computed on a straight-line bass,'s $50,080. 3, The short-term investments have a fair value of $30,750 4 The notes receivable are due Apnl 30, 2019, with interest recevable every Aprl 30. The notes bear interest at 6%. (Hint, Accrued interest due on December 31, 2017. 5. The allowance for doubtful accounts applies to the scourts receiveble. Aounts recevable of $52,700 re pledged 58 colateral on bsnk loan. 6. Licenses are recorded net of acoumulated amcrtzaton of $13,410. 7. Treasary stock is recorded at cost Prepare the current assets section of Tamarisk Company's December 31, 2017, balance sheet, with appropriste disdosures. (List Current Assets in order of Nguidity,. Enter account name only and do not provide the descriptive information provided in the question TAMARISK COMPANY Balance Sheet (Partial) Current Assets Acceunts Receiveable e for Doubtful Accounts Raw