Question
Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. Accounts Payable $ 870
Terracotta, Inc. reported the following accounts and amounts (in millions) in its financial statements for the year ended November 30, 2013. Accounts Payable $ 870 Accounts Receivable 910 Accumulated Amortization 600 Accumulated Depreciation 940 Allowance for Doubtful Accounts 80 Cash and Cash Equivalents 980 Equipment 6,455 Income Taxes Payable 80 Notes Payable (long-term) 3,000 Notes Payable (short-term) 90 Notes Receivable (long-term) 360 Prepaid Rent 420 Retained Earnings 8,430 Service Revenue 600 Short-term Investments 3,840 Software 755 Unearned Revenue 930 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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