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Your answer is partially correct. Greencastle Corporation reported the following selected items at February 28, 2021: Accounts payable $881,720 Inventory $357,200 Accounts receivable 441,800
Your answer is partially correct. Greencastle Corporation reported the following selected items at February 28, 2021: Accounts payable $881,720 Inventory $357,200 Accounts receivable 441,800 Notes receivable-due November 1, 2021 282,000 Allowance for doubtful accounts 28,200 Notes receivable-due April 1, 2024 376,000 Bad debts expense 22,560 Prepaid rent 7,520 Cash 141,000 Sales tax recoverable 35,720 Deferred revenue 4,700 Trading investments 310,200 Estimated inventory returns 17,860 Prepare the current assets section of Greencastle's statement of financial position. (List Current Assets in order of liquidity.) GREENCASTLE CORPORATION Statement of Financial Position (Partial) February 28, 2021 Current Assets Cash Trading Investments Accounts Receivable Less Allowance for Doubtful Accounts Notes Receivable Notes Receivable Inventory Prepaid Rent Sales Tax Recoverable Total Current Assets Assets $ 441800 28200 +9 $
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