The bookkeeper for Buffalo Company has prepared the following balance sheet as of July 31, 2025. Cash Accounts receivable (net) Inventory Equipment (net) Patents 1. 2. 3. 4. Buffalo Company Balance Sheet As of July 31, 2025 5. $89,700 52,650 78,000 The following additional information is provided. 109,200 27,050 $356,600 Notes and accounts payable $57,200 Long-term liabilities 97,500 Stockholders' equity 201,900 $356,600 Cash includes $1,560 in a petty cash fund and $19,500 invested in a 24-month certificate of deposit. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $57,200 and (b) allowance for doubtful accounts $4,550. Inventory costing $6,890 was shipped out on consignment on July 31, 2025. The ending inventory balance does not include the consigned goods. Receivables in the amount of $6,890 were recognized on these consigned goods. Equipment had a cost of $145,600 and an accumulated depreciation balance of $36,400. Income taxes payable of $7,800 were accrued on July 31. Buffalo Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the income taxes payable amount.

The bookkeeper for Buffalo Company has prepared the following balance sheet as of July 31,2025 . The following additional information is provided. 1. Cash includes $1,560 in a petty cash fund and $19,500 invested in a 24 -month certificate of deposit. 2. The net accounts recelvable balance is comprised of the following two items: (a) accounts recelvable $57,200 and (b) allowance for doubtful accounts $4,550. 3. Inventory costing $6,890 was shipped out on consignment on July 31,2025 . The ending inventory balance does not include the consigned goods. Recelvables in the amount of $6,890 were recognized on these conslgned Boods. 4. Equipment had a cost of $145,600 and an accumulated depreciation balance of $36,400. 5. Income taxes payable of $7.800 were accrued on July 31. Buffalo Company, however, had set upa cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset agalnst the income The bookkeeper for Buffalo Company has prepared the following balance sheet as of July 31,2025 . The following additional information is provided. 1. Cash includes $1,560 in a petty cash fund and $19,500 invested in a 24 -month certificate of deposit. 2. The net accounts recelvable balance is comprised of the following two items: (a) accounts recelvable $57,200 and (b) allowance for doubtful accounts $4,550. 3. Inventory costing $6,890 was shipped out on consignment on July 31,2025 . The ending inventory balance does not include the consigned goods. Recelvables in the amount of $6,890 were recognized on these conslgned Boods. 4. Equipment had a cost of $145,600 and an accumulated depreciation balance of $36,400. 5. Income taxes payable of $7.800 were accrued on July 31. Buffalo Company, however, had set upa cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset agalnst the income