Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021: Accounts receivable $12,400
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Question:
Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021:
Accounts receivable $12,400
Inventory 41,000
Patent 12,300
Investments 31,200
Prepaid insurance 7,100
Notes receivable, due 2024 50,500
Investments consist of treasury bills that were purchased in November 2021 and mature in January 2022.
Prepaid insurance is for two years. What amount should be included in the current assets section of Janson's December 31, 2021, balance sheet?
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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