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Peter's Plants currently has $800 in cash. The company owes $1,800 to suppliers for merchandise and $6,000 to the bank for a long-term loan. Customers
Peter's Plants currently has $800 in cash. The company owes $1,800 to suppliers for merchandise and $6,000 to the bank for a long-term loan. Customers owe Peter's $2,500. The inventory has a book value of $4,100 and an estimated market value of $5,400. If Peter's compiled a financial statement today, how much would it show as the value of the current assets?
a. $5,600
b. $6,600
c. $6,900
d. $7,400
e. $8,700
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