Presented below are selected accounts of Crane Company at December 31, 2020. Inventory (finished goods) $ 60,400 Cost of Goods Sold $2,187,800 Unearned Service Revenue 90,700 Notes Receivable 42,600 Equipment 256,500 Accounts Receivable 167,790 Inventory (work in process) 41,300 Inventory (raw materials) 170,660 Cash 37,600 Supplies Expense 54,060 Debt Investments (trading) 39,000 Allowance for Doubtful Accounts 11,220 Customer Advances 53,500 Licenses 18,360 Restricted Cash for Plant Expansion 53,700 Additional Paid-in Capital Treasury Stock 80,450 20,610 The following additional information is available. 1. Inventories are valued at lower-of-cost-or-market using LIFO. 2. 3. 4. Equipment is recorded at cost. Accumulated depreciation, computed on a straight-line basis, is $47,331. The short-term investments have a fair value of $26,730. The notes receivable are due April 30, 2022, with interest receivable every April 30. The notes bear interest at 6%. (Hint: Accrue interest due on December 31, 2020.) 5. The allowance for doubtful accounts applies to the accounts receivable. Accounts receivable of $50,200 are pledged as collateral on a bank loan. 6. Licenses are recorded net of accumulated amortization of $13,270. 7. Treasury stock is recorded at cost.