The current assets and current liabilities sections of the balance sheet of Pharoah Company appear as follows. The following errors in the corporation's accounting have been discovered: 1 January 2026 cash disbursements entered as of December 2025 included payments of accounts payable in the amount of $41,300. on which a castidiscount of 2% was taken. 2. The imventory included $28,440 of merchandise that had been received at December 31 but for which no purchase invoices had been received or enter ed. Of this amount $12.670 had been reseived on consignment; the remainder was purch asad fob destination, terms 2/10,n/30. 3. Sales for the first four days in January 2026 in the amount of $30,480 were entered in the sales joumal as of Dextmber 31 . 2025 . Of these $23,360 were sales on account and the remainder were cash sales. 4 Cash, not incuding cash sales, collected in January 2026 and entered as of December 312025 , totaled $35,324. Of this amount 523,324 was received on account after cast discounts of 2% had been deducted: the remainder represented the proceeds of a bankloan Liabilities and Stockholders' Equity Accounta Pasbie Neter Parable Jacktopens Ecuit eTertbook and Media Ust of Accounts