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Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2024. Account Title Debits Credits Cash $ 22,000 Accounts
Presented below are the ending balances of accounts for the Kansas Instruments Corporation at December 31, 2024. Account Title Debits Credits Cash $ 22,000 Accounts receivable 134,000 Raw materials 26,000 Notes receivable 102,000 Interest receivable 5,000 Interest payable $ 7,000 Investment in debt securities 34,000 Land 52,000 Buildings 1,340,000 Accumulated depreciationbuildings 622,000 Work in process 44,000 Finished goods 91,000 Equipment 304,000 Accumulated depreciationequipment 132,000 Patent (net) 122,000 Prepaid rent (for the next two years) 62,000 Deferred revenue 38,000 Accounts payable 182,000 Notes payable 420,000 Restricted cash (for payment of notes payable) 82,000 Allowance for uncollectible accounts 15,000 Sales revenue 840,000 Cost of goods sold 452,000 Rent expense 30,000 Additional Information: The notes receivable, along with any interest receivable, are due on November 22, 2025. The notes payable are due in 2028. Interest is payable annually. The investment in debt securities consist of treasury bills, all of which mature next year. Deferred revenue will be recognized as revenue equally over the next two years. Required: Determine the companys working capital (current assets minus current liabilities) at December 31, 2024. Note: Amounts to be deducted should be indicated by a minus sign
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