Question 8 of 8 - /30 The current assets and current liabilities sections of the balance sheet of Windsor Company appear as follows. WINDSOR COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2020 Cash $ 46,100 Accounts receivable $95.900 Less: Allowance for doubtful accounts 8,850 87,050 Inventory 163.710 Prepaid expenses 9,840 $306,700 Accounts payable Notes payable $ 56,560 67.760 $124,320 The following errors in the corporation's accounting have been discovered: 1. 2. January 2021 cash disbursements entered as of December 2020 included payments of accounts payable in the amount of $39,900, on which a cash discount of 2% was taken The inventory included $31.250 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,200 had been received on consignment: the remainder was purchased fo.b. destination, terms 2/10, 1/30. Sales for the first four days in January 2021 in the amount of $28,630 were entered in the sales journal as of December 31, 2020. Of these, $23,360 were sales on account and the remainder were cash sales. Cash, not including cash sales, collected in January 2021 and entered as of December 31, 2020, totaled $35,030. Of this amount, $23,030 was received on account after cash discounts of 2% had been deducted; the remainder represented the 3. 4. narodenfahamilan Question 8 of 8