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

IVANHOE COMPANY

BALANCE SHEET (PARTIAL)

DECEMBER 31, 2017

$130,500 Inventory 157,330 Prepaid expenses 8,110 $297,810

Cash		$42,800	Accounts Payable		64,090
Accounts Receivable	98,100		Notes Payable		66,410
Less: allowance for doubtful accounts	8,530	89,570
Inventory		157,330
Prepaid expenses		8,110
		297,810

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 $43,400, on which a cash discount of 2% was taken.

2. The inventory included $30,790 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $10,860 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 $29,350 were entered in the sales journal as of December 31, 2017. Of these, $21,600 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 $37,480. Of this amount, $25,480 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.

Calculate the following adjusted balances.

Cash
Accounts Receivable
Inventory
Accounts Payable
Notes Payable