An examination of the accounting records for the Hutton Corporation indicates that all receivables are being recorded in a single account entitled Receivables. An analysis of the account reveals the following:
Accounts receivable (trade) ............. $15,500
Accounts receivable (officers) ............ 3,600
Common stock subscriptions receivable (current) ...... 12,000
Advances to employees .............. 1,800
Notes receivable (trade), due in 3 years ........ 6,000
Deposit to guarantee contract performance ........ 5,000
Utility deposit .................. 500
Total ....................... $44,400

Required
1. Prepare a journal entry to separate the preceding items into their proper accounts.
2. How would each of the preceding items normally be reflected on Hutton’s balance sheet?