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Presented below are selected accounts for San Marcos Corporation for December 31 of the current year. Debit Credit Accounts Receivable-trade $730 Building and Equipment
Presented below are selected accounts for San Marcos Corporation for December 31 of the current year. Debit Credit Accounts Receivable-trade $730 Building and Equipment 1,030 Cash in bank-operating 59 Interest Receivable 45 45 Installment Receivables-due in 6 70 months 70 Merchandise Inventory Land 35 35 310 Notes Receivable-long term 535 Petty Cash 18 Prepaid Expenses-current 42 Supplies 29 Patent 222 70 Accounts Payable-trade Accumulated Depreciation 635 235 13 Additional Paid-in Capital Allowance for Uncollectible Accounts 610 65 Cash Dividends Payable 70 Common Stock-$1 par value 55 Income Tax Payable 95 Notes Payable-2 years 910 Retained Earnings 75 Unearned Revenues-2 years 95 Cash Dividends Declared Service Revenue 250 578 Operating Expenses 200 TOTALS $8,423 $3,423 What are long-term assets for San Marcos Corporation? O $1,640 O $1,710 $1,945 $1,175
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