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Jim Carrie Company shows a balance of $181,140 in the Accounts Receivable account on December 31, 2013. The balance consists of the following. Installment accounts
Jim Carrie Company shows a balance of $181,140 in the Accounts Receivable account on December 31, 2013. The balance consists of the following.
Installment accounts due in 2014 | $23,000 | |
Installment accounts due after 2014 | 34,000 | |
Overpayments to vendors | 2,640 | |
Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan | 79,000 | |
Advances to employees | 1,500 | |
Advance to subsidiary company (due in 2015) | 81,000 |
Illustrate how the information above should be shown on the balance sheet of Jim Carrie Company on December 31, 2013.
(Accounts to choose from for Partial Balance Sheet = Accounts, Accounts Recievable, Advance to Subsidiary Company, Investments, Installment Accounts due 2014, Installment Accounts due after December 31, 2014, Other, Customers, Current Assets)
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