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Question 2 of 7 - 71 = View Policies Current Attempt in Progress Kingbird Company shows a balance of $ 246,140 in the Accounts Receivable
Question 2 of 7 - 71 = View Policies Current Attempt in Progress Kingbird Company shows a balance of $ 246,140 in the Accounts Receivable account on December 31, 2020. The balance consists of the following. Installment accounts due in 2021 $ 31,300 Installment accounts due after 2021 38,700 Overpayments to vendors 3,160 Due from regular customers, of which $ 40,930 represents accounts pledged as security for a bank loan 84,700 Advances to employees 1,780 Advance to subsidiary company (due in 2021) 86,500 Illustrate how the information above should be shown on the balance sheet of Kingbird Company on December 31, 2020. Assume that installment accounts collectible due after December 31, 2018 (Customers) are collectible within the operating cycle of the business. The company's operating cycle is such that all installment receivables are classified as current. KINGBIRD COMPANY Balance Sheet (Partial) V v $ $
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