whats the amount if current assets and then tota long term imvestments
ne following is a December 31, 2019, post-closing trial balance for Desert Company: Account Title Credits Cash Accounts Receivable (net of Allowance) Debits $ 83,000 $280,000 $ 32,000 $ 65,000 $175,000 Prepaid Expenses Investments Land $160,000 $145,000 Buildings (net) Equipment (net) Accounts Payable Accrued Expenses Unearned Revenue Notes Payable Common Stock Retained Earnings TOTALS $ 73,000 $ 45,000 $150,000 $300,000 $200,000 $172,000 $940,000 $940,000 1. The cash account includes $15,000 set aside in a legally restricted fund to pay bonds payable that mature in 2027 and a $13,000 cash surrender value of a life insurance policy on the company's CEO. 2. The accounts receivable balance consists of the following: a. Amounts owed by customers with debit balances $ 235,000 b. Customer accounts with credit balances 10,000 c. Allowance for uncollectible accounts - trade customers (15,000) d. Non-trade note receivable due in three years 65,000 e. Interest receivable on note due in four months 5,000 Total $280,000 3. The land account includes land which cost $75,000 that the company purchased for speculative purposes and is currently held for sale. The remaining $100,000 is the cost of land on which the company's office building resides. The equipment account includes idle machinery with a book value of $45,000. 4. The investments account is classified as Available for Sale Securities and includes an investment of $25,000 in bonds that mature July 1, 2020. Of the remaining investments balance, management intends to hold for at least the next three years. All investments in the portfolio have already been marked-to-market and are reported at Fair Value. 5. The unearned revenue represents customer prepayments for magazine subscriptions. Subscriptions are for three years and will be earned evenly over each of the years beginning January 1, 2020. 6. The notes payable account consists of the following: a. a $50,000 note due in six months, b. a $100,000 bond due in six years, c. a $150,000 note due in three annual installments of $50,000 each, with the next installment due Nov. 1, 2020. Interest on all notes has been properly accrued and is included in accrued expenses