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Prepare the current assets section of the statement of financial position. (List Current Assets in order of liquidity.) Concord Corporation Statement of Financial Position (Partial)

image text in transcribedPrepare the current assets section of the statement of financial position. (List Current Assets in order of liquidity.)

Concord Corporation Statement of Financial Position (Partial) For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020
Current Assets
Prepaid InsuranceCash and Cash EquivalentsInventoryPatentsAllowance for Doubtful AccountsLandTreasury BillsAccounts ReceivableFV-NI Investments $
Treasury BillsPrepaid InsuranceFV-NI InvestmentsLandCash and Cash EquivalentsAccounts ReceivablePatentsInventoryAllowance for Doubtful Accounts
Accounts ReceivableTreasury BillsPrepaid InsuranceFV-NI InvestmentsInventoryPatentsCash and Cash EquivalentsAllowance for Doubtful AccountsLand $
LessAdd: PatentsPrepaid InsuranceLandInventoryTreasury BillsFV-NI InvestmentsCash and Cash EquivalentsAllowance for Doubtful AccountsAccounts Receivable
Prepaid InsuranceInventoryTreasury BillsPatentsLandCash and Cash EquivalentsAllowance for Doubtful AccountsFV-NI InvestmentsAccounts Receivable
LandPatentsFV-NI InvestmentsTreasury BillsInventoryCash and Cash EquivalentsAccounts ReceivableAllowance for Doubtful AccountsPrepaid Insurance
Total Current Assets $
Concord Corporation's adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $3,300; Treasury Bills (with original maturity of three months) $4,700; Land $45,000; Intangible Assets-Patents $13,000; Accounts Receivable $99,000; Prepaid Insurance $5,700; Inventory $32,200; Allowance for Doubtful Accounts $5,000; and FV-NI (Fair Value-Net Income) Investments $11,200. (a1) Prepare the current assets section of the statement of financial position. (List Current Assets in order of liquidity.) Concord Corporation Statement of Financial Position (Partial) Current Assets $ $ Total Current Assets $

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