Question
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 664, Building and equipment 921
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit Credit Accounts receivable 664, Building and equipment 921 , Cash 46, Interest receivable 49, Inventory 19, Land 161 Notes receivable (long-term) 488 , Prepaid rent 37, Supplies 11, Trademark 53, Accounts payable 602, Accumulated depreciation 76, Additional paid-in capital 466 , Dividends payable 29 , Common stock (at par) 10, Income tax payable 57 ,Notes payable (long-term) 851 , Retained earnings 324 , Deferred revenue 24, TOTALS 2,458 2,458
What would Symphony report as total current assets?
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