The current assets and current liabilities sections of the balance sheet of Sunland Company appear as follows. Sunland Company Balance Sheet (Partial) December 31, 2025 Cash $43,900 Accounts payable $65,490 Accounts receivable $92,300 Notes payable 72,180 Less: Allowance for doubtful accounts 8,020 84,280 $137,670 Inventory 157,750 Prepaid expenses 8,220 $294,150 The following errors in the corporation's accounting have been discovered: 1. 2. 3. 4. January 2026 cash disbursements entered as of December 2025 included payments of accounts payable in the amount of $42,400, on which a cash discount of 2% was taken. The inventory included $31,360 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,160 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. Sales for the first four days in January 2026 in the amount of $31,220 were entered in the sales journal as of December 31, 2025. Of these, $22,020 were sales on account and the remainder were cash sales. Cash, not including cash sales, collected in January 2026 and entered as of December 31, 2025, totaled $35,226. Of this amount, $23,226 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.