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Hi I need help answering the following question Presented below is a partial trial balance for the Messenger Corporation at December 31, 2021. Credits Debits
Hi I need help answering the following question
Presented below is a partial trial balance for the Messenger Corporation at December 31, 2021. Credits Debits 40, 215,000 46,000 170,000 5,800 8,ce 49,00 150,000 1,600,000 79e, eee Account Title Cash and cash equivalents Accounts receivable Raw materials inventory Notes receivable Interest receivable Interest payable Investments Land Buildings Accumulated depreciation-buildings Work in process inventory Finished goods inventory Equipment Accumulated depreciation equipment Franchise (net of amortization) Prepaid insurance (for the next year) Deferred revenue Accounts payable Notes payable Salaries payable Allowance for uncollectible accounts Sales revenue Cost of goods sold Salaries expense 48,000 99,000 450,000 280,000 1,400,000 78,888 66,000 340,000 6ee, Bee 8.00 34,000 8,580,000 550,000 58.000 Additional information: 1. The notes receivable, along with any accrued interest, are due on November 1, 2022 2. The notes payable are due in 2026. Interest is payable annually 3. The investments consist of equity securities of other corporations Management does not intend to sell any of the securities in the next year 4. Deferred revenue will be recognized equally over the next 18 months, Required: Determine the company's working capital at December 31, 2021 (Do not round your intermediate calculations.) Woring capital Step by Step Solution
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