M8-13 Reporting Accounts and Notes Receivable in a Classified Balance Sheet

Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013.

Accounts Payable	$	760
Accounts Receivable		690
Accumulated Amortization		490
Accumulated Depreciation		830
Allowance for Doubtful Accounts		50
Cash and Cash Equivalents		870
Equipment		5,355
Income Taxes Payable		50
Notes Payable (long-term)		1,900
Notes Payable (short-term)		35
Notes Receivable (long-term)		250
Prepaid Rent		310
Retained Earnings		7,330
Service Revenue		490
Short-term Investments		2,740
Software		645
Unearned Revenue		820
Prepare the current assets section of its balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Partial Balance SheetAs of November 30, 2013(in millions of dollars)Assets Current Assets: Cash and Cash Equivalents Short-term Investments Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, net of Allowance Prepaid Rent Total Current Assets $0