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Sage Hill Inc. shows a balance of $506,720 in the Accounts Receivable account on December 31, 2020. The balance consists of the following: Instalment accounts
Sage Hill Inc. shows a balance of $506,720 in the Accounts Receivable account on December 31, 2020. The balance consists of the following: Instalment accounts due in 2021 Instalment accounts due after 2021 Overpayments to creditors Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan Advances to employees Advance to subsidiary company (made in 2015) $85,000 75,000 12,670 164,000 70,050 100,000 $506,720 Show how the information above should be presented on the statement of financial position of Sage Hill Inc. at December 31, 2020. Sage Hill Inc. Statement of Financial Position $
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