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Mazoon Co.'s trial balance included the following account balances at December 31, 2018: Accounts receivable $8500 Inventories 28000 Copyright 9500 Investments 22500 Prepaid insurance 8000
Mazoon Co.'s trial balance included the following account balances at December 31, 2018: Accounts receivable $8500 Inventories 28000 Copyright 9500 Investments 22500 Prepaid insurance 8000 Accounts payable 47500 Investments consist of treasury bills that were purchased in November 2018 and mature in December 2020. Prepaid insurance is for the next two years. What amount should be included in the current asset section of Mazoon's December 31, 2018, statement of financial position? 1. What is the function and primary focus of financial Accounting? (Chapter 1)
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