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

PRONGHORN COMPANY

BALANCE SHEET (PARTIAL)

DECEMBER 31, 2017

Cash$43,000Accounts payable$59,440Accounts receivable$93,400Notes payable71,730Less: Allowance for doubtful accounts8,52084,880$131,170Inventory154,250Prepaid expenses8,210$290,340

The following errors in the corporation's accounting have been discovered:

1.January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $44,000, on which a cash discount of 2% was taken.2.The inventory included $29,130of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,210had 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 $27,660were entered in the sales journal as of December 31, 2017. Of these, $22,820were 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 $35,520. Of this amount, $23,520was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.

(a1)

Your answer is incorrect.Try again.Calculate the following adjusted balances.

Cash

$

Accounts Receivable

$

Inventory

$

Accounts Payable

$

Notes Payable

$