The current assets and current liabilities sections of the balance sheet of Crane Co. appear as follows. Crane Co. Balance Sheet (Partial) As of December 31, 2017 $17,900 Accounts payable $28,500 15,300 4,200 $48,000 Cash $38,200 1,200 Accounts receivable Notes payable Less: Allowance for doubtful accounts Inventory Prepaid expenses Total current assets 37,000 Unearned revenue Total current liabilities 62,900 5,900 $123,700 The following errors in the corporation's accounting have been discovered 1. Keane collected $3,400 on December 20, 2017 as a down payment for services to be performed in January, 2018. The company's controller recorded the amount as 2. The inventory amount reported included $2,400 of merchandise that had been received on December 31, 2017 but for which no purchase invoices had been 3. Sales for the first day in January 2018 in the amount of $10,100 were entered in the sales journal as of December 31, 2017. Of these, $5,900 were sales on 4. Cash, collected in December 2017, but entered as received in January 2018 totaled $3,100. Of this amount, $3,234 was received on account after cash discounts of 5. Cash of $3,000 received in January 2018 was entered as received in December 2017. This cash represented the proceeds of a bank loan that matures in July 2018 6. was taken revenue received or entered. Of this amount, $2,200 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30 account and the remainder were cash sales 2% had been deducted; the remainder was collected for cash sales. January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $7,600, on which a cash discount of 1%