How to do E5-6 the second question? Why is account receivable decrease by 5,300?

Prepare a revised balance sheet given the available informati buildings is $160,000 and for the equipment, $105,000. The a obligation is considered a long-term liability. E5-6 (L02,3) (Corrections of a Balance Sheet) The bookkeeper for GB sheet as of July 31, 2017. GERONIMO COMPANY - 00" , BALANCE SHEET As or JULY 31, 2017 xt- CaSh $ 69,000 Notes and accounts payable 0 Accounts receivable (net) 0 40,500 Long-term liabilities 75100 x(. Inventory 5; fl)?" 60,000 Stockholders' equity 155500 - Equipment (net) 84,000 w fi Patents 21,000 $274,5OO . Sank,- - z-KQMM UN?" mm The following additional information is provided. 1. Cash includes $1,200 in a petty cash fund and $15,000 in 1 bond sinkin 2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $44,pOO and (b) allow- ance for doubtful accounts $3,500. A' V- "Who OWUNW kw ' aoubthx tquWV't abs") 3. Inventory costing $5,300 was shipped out on con51gnment on July 31, 2017. The ending inventory balance does not include the consigned goods. Receivables in the amount 0@ were recognized on these consigned goods. george 0 "r S BO" go Equi ment had a cost of $112,000 and an accumulated depreciation balance of $28,000. va come taxes payab of $6,000 were accrued on July 31. Geronimo Company, however, had set up a cash fund to magma g fund. M {xl Y' obligation. This cash fund was not included in the cash'balancelbut was offset agamst the income taxes payable amount. M' - ann-"A ---->---- A fl...- --- -----'-> .-.V v..- w----- "---.,-..u' --,.--...---'. -..-----c... 7 MM Instructions Prepare a corrected classified balance sheet as of July 31, 2017, from the available information, adjusting the account balances using the additional information