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

Construct the current assets sections 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) 570,000

inventory turnover 10 times

current liabilities 97,000

current ratio 2

average collection period 36 days

current assets:

cash __________________

accounts receivable ___________

inventory _________________

total current assets ______________

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