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LEM 23.6A Jake Marley, owner of Marley Wholesale, is negotiating with the bank for a $200,000, 90-day. ing a Cash 12 percent loan effective July 1 of the current year. If the bank grants the loan, the proceeds will be $194,000, which Marley intends to use on July 1 as follows: pay accounts payable, $150,000 purchase equipment, $16,000; add to bank balance, $28,000. el The current working capital position of Marley Wholesale, according to financial statements as of June 30, is as follows: Cash in bank 20,000 160,000 Receivables (net of allowance for doubtful accounts). . . . . .. . .. . . .. Total current assets Accounts payable (including accrued operating expenses) . .. .. . . . . . .. .150,000 $120,000