Question
Hendrickson Corporation's trial balance for July 31, the end of its fiscal year, included the following accounts: Accounts Receivable $21,000 Inventories 57,000 Copyright 18,000 Investments
Hendrickson Corporation's trial balance for July 31, the end of its fiscal year, included the following accounts: Accounts Receivable $21,000 Inventories 57,000 Copyright 18,000 Investments 41,000 Prepaid Insurance 6,000 Note receivable, due in two years 74,000 Cash in Bank 4,500 Investments are treasury bills that were purchased in May and mature on August 15. Prepaid insurance is a three-year policy that was purchased on July 31. The amount that should be classified as current assets in the July 31 balance sheet is ________.
A.
$129,500
B.
$125,500
C.
$199,500
D.
$82,000
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