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Tamarisk, Inc. shows a balance of $524,870 in the Accounts Receivable account on December 31, 2020. The balance consists of the following: Installment accounts due
Tamarisk, Inc. shows a balance of $524,870 in the Accounts Receivable account on December 31, 2020. The balance consists of the following:
Installment accounts due in 2021 | $92,500 | |
Installment accounts due after 2021 | 78,000 | |
Overpayments to creditors | 12,580 | |
Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan | 167,000 | |
Advances to employees | 69,790 | |
Advance to subsidiary company (made in 2015) | 105,000 | |
$524,870 |
Show how the information above should be presented on the statement of financial position of Tamarisk, Inc. at December 31, 2020
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