Question: Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use

Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use a 360-day year. Do not round intermediate calculations.) Yearly sales (credit) $ 371,000 Inventory turnover 7 times Current liabilities $ 62,000 Current ratio 2 Average collection period 36 days

Current assets:

cash:

Account receivable:

inventory:

total current assets:

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