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I am stuck on this Exercise 7-03 Riverbed Company shows a balance of $249,430 in the Accounts Receivable account on December 31, 2020. The balance
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Exercise 7-03 Riverbed Company shows a balance of $249,430 in the Accounts Receivable account on December 31, 2020. The balance consists of the following. Installment accounts due in 2021 $29,500 Installment accounts due after 2021 42,200 Overpayments to vendors 3,530 Due from regular customers, of which $40,980 represents accounts pledged as security for a bank loan 87,900 Advances to employees 2,500 Advance to subsidiary company (due in 2021) 83,800 Illustrate how the information above should be shown on the balance sheet of Riverbed Company on December 31, 2020. Assume that installment accounts collectible due after December 31, 2018 (Customers) are collectible within the operating cycle of the business. The company's operating cycle is such that all installment receivables are classified as current. RIVERBED COMPANY Balance Sheet (Partial)Step by Step Solution
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