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The following items were taken from the financial statements of P. Sandhill Company. (All amounts are in thousands.) Long-term debt $1,000 Accumulated depreciation-equipment $5,500
The following items were taken from the financial statements of P. Sandhill Company. (All amounts are in thousands.) Long-term debt $1,000 Accumulated depreciation-equipment $5,500 Prepaid insurance 850 Accounts payable 1,600 Equipment 11,600 Notes payable (due after 2021) 400 Stock investments (long-term) 200 Owner's capital 13,450 Debt investments (short-term) 3,300 Accounts receivable 2,000 Notes payable (due in 2021) Cash 600 Inventory 1,700 2,900 Prepare a classified balance sheet in good form as of December 31, 2020. (List Current Assets in order of liquidity. Enter amounts in thousands.)
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