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The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2014. GERONIMO COMPANY BALANCE SHEET AS OF JULY 31, 2014

The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2014.

GERONIMO COMPANY BALANCE SHEET AS OF JULY 31, 2014
Cash	$ 69,000	Notes and accounts payable	$ 44,000
Accounts receivable (net)	40,500	Long-term liabilities	75,000
Inventory	60,000	Stockholders

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