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Preparing a Current Asset Section along with Note Disclosures The following selected normal balunces are from the post-closing trial balance of WxO inc as af

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Preparing a Current Asset Section along with Note Disclosures The following selected normal balunces are from the post-closing trial balance of WxO inc as af December 31. Adstional information 1. Included in the cash bu ance is $35,000 of cash restricted for 18 months due to a debt agreement. 2 . Included in investments is $39200 of short-term investments at fair value, and the remainos, is long-4erm, aiso cecognized at far value. 3. 5% of the accounts feceivable bilance of 5105,000 is estimated to be uncolectible. 4. Irwentory is valued at the lower of cost or market. The cost value is determined using the LFO mechod. year. a. Prepare the current asset section of the classified balance sheet on December 31 . Note: Do not use negatwe signs with any of your answers b. Prepare a list of four notes, in reference to assets, to be included in the significant axc Please answer all parts of the cuestion

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