The current assets and current liabilities sections of the balance sheet of Splish Company appear as follows.

SPLISH COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2017
Cash				$ 44,300		Accounts payable		$ 58,160
Accounts receivable		$94,400				Notes payable		66,420
Less: Allowance for doubtful accounts		7,400		87,000				$124,580
Inventory				174,040
Prepaid expenses				9,210
				$314,550

The following errors in the corporations accounting have been discovered:

1.		January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $39,900, on which a cash discount of 2% was taken.
2.		The inventory included $30,450 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,920 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30.
3.		Sales for the first four days in January 2018 in the amount of $28,760 were entered in the sales journal as of December 31, 2017. Of these, $21,910 were sales on account and the remainder were cash sales.
4.		Cash, not including cash sales, collected in January 2018 and entered as of December 31, 2017, totaled $33,168. Of this amount, $21,168 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.