Question
Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. Accounts Payable $ 860
Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. Accounts Payable $ 860 Accounts Receivable 890 Accumulated Amortization 590 Accumulated Depreciation 930 Allowance for Doubtful Accounts 70 Cash and Cash Equivalents 970 Equipment 6,355 Income Taxes Payable 70 Notes Payable (long-term) 2,900 Notes Payable (short-term) 85 Notes Receivable (long-term) 350 Prepaid Rent 410 Retained Earnings 8,330 Service Revenue 590 Short-term Investments 3,740 Software 745 Unearned Revenue 920 Prepare the current assets section of its balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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