Santos Charcuterie and Bakery Account Account Balance (S) Accounts Receivable: House 6,200 Accounts Allowance for Doubtful House 1,500 5 Accounts Accounts Receivable: Credit Cards 12,300 3 Money in Cashiers Banks 5,000 Cash on Deposit in Local Bank 80,200 0 Food Inventory 17,850 11 Paper and Supplies Inventory 5,175 12 Prepaid Expenses 27,950 13 14 Santos Charcuterie and Bakery 15 Current Assets 16 Cash 17 Accounts Receivable Net 18 Inventories 19 Prepaid Expenses 20 Total Current Assets 21 22 23 a. Why must Sean address the issue of allowances for 24 doubtful house accounts if he is to accurately 25 calculate his total current assets? Answer: 26 27 b. What are two examples of prepaid expenses Sean 28 may have incurred and thus must address if he is to 29 accurately calculate his total current assets? Answer: $ 20