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I was wondering if you could help me to find out thecorrected classified balance sheet entry for cash and accounts receivables. The following information is

I was wondering if you could help me to find out thecorrected classified balance sheet entry for cash and accounts receivables. The following information is given:

The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2014.
GERONIMO COMPANY BALANCE SHEET AS OF JULY 31, 2014
Cash $72,040 Notes and accounts payable $48,090
Accounts receivable (net) 44,590 Long-term liabilities 78,040
Inventory 63,040 Stockholders equity 158,540
Equipment (net) 84,000 $284,670
Patents 21,000
$284,670
The following additional information is provided.
1. Cash includes $1,200in a petty cash fund and $15,230in a bond sinking fund.
2. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $48,090 and (b) allowance for doubtful accounts $3,500.
3. Inventory costing $5,440was shipped out on consignment on July 31, 2014. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,440were recognized on these consigned goods.
4. Equipment had a cost of $116,090and an accumulated depreciation balance of $32,090.
5.

Income taxes payable of $9,200were accrued on July 31. Geronimo Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance, but was offset against the income taxes payable amount.

Prepare a corrected classified balance sheet as of July 31, 2014, from the available information, adjusting the account balances using the additional information

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