Current Attempt in Progress The bookkeeper for Concord Company has prepared the following balance sheet as...

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Current Attempt in Progress The bookkeeper for Concord Company has prepared the following balance sheet as of July 31, 2025. Concord Company Balance Sheet As of July 31, 2025 Cash $ 56,580 Notes and accounts payable $ 36,080 Accounts receivable (net) 33,210 Long-term liabilities 61,500 Inventory 49.200 Stockholders' equity 127,500 Equipment (net) 68.880 $225.080 Patents 17,210 $225,080 The following additional information is provided. 1. Cash includes $984 in a petty cash fund and $12,300 invested in a 24-month certificate of deposit. 2. 3. 4. 5. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $36,080 and (b) allowance for doubtful accounts $2,870. Inventory costing $4,346 was shipped out on consignment on July 31, 2025. The ending inventory balance does not include the consigned goods. Receivables in the amount of $4,346 were recognized on these consigned goods. Equipment had a cost of $91,840 and an accumulated depreciation balance of $22,960. Income taxes payable of $4,920 were accrued on July 31. Concord Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the income taxes payable amount. Prepare a corrected classified balance sheet as of July 31, 2025 from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity.) Current Assets Cash Accounts Receivable < Less Allowance for Doubtful Accounts Inventory Total Current Assets Long-term Investments Certificate of Deposit $ Balance Sheet Assets A +A $ Total Current Assets Long-term Investments Certificate of Deposit Property, Plant, and Equipment Equipment > < < Less : Accumulated Depreciation-Equipment Intangible Assets Patents Total Assets 27 69 $ Current Liabilities Notes and Accounts Payable Income Tax Payable Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity > > > Total Liabilities and Stockholders' Equity 13 $ $ $ E Current Attempt in Progress The bookkeeper for Concord Company has prepared the following balance sheet as of July 31, 2025. Concord Company Balance Sheet As of July 31, 2025 Cash $ 56,580 Notes and accounts payable $ 36,080 Accounts receivable (net) 33,210 Long-term liabilities 61,500 Inventory 49.200 Stockholders' equity 127,500 Equipment (net) 68.880 $225.080 Patents 17,210 $225,080 The following additional information is provided. 1. Cash includes $984 in a petty cash fund and $12,300 invested in a 24-month certificate of deposit. 2. 3. 4. 5. The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $36,080 and (b) allowance for doubtful accounts $2,870. Inventory costing $4,346 was shipped out on consignment on July 31, 2025. The ending inventory balance does not include the consigned goods. Receivables in the amount of $4,346 were recognized on these consigned goods. Equipment had a cost of $91,840 and an accumulated depreciation balance of $22,960. Income taxes payable of $4,920 were accrued on July 31. Concord Company, however, had set up a cash fund to meet this obligation. This cash fund was not included in the cash balance but was offset against the income taxes payable amount. Prepare a corrected classified balance sheet as of July 31, 2025 from the available information, adjusting the account balances using the additional information. (List Current Assets in order of liquidity.) Current Assets Cash Accounts Receivable < Less Allowance for Doubtful Accounts Inventory Total Current Assets Long-term Investments Certificate of Deposit $ Balance Sheet Assets A +A $ Total Current Assets Long-term Investments Certificate of Deposit Property, Plant, and Equipment Equipment > < < Less : Accumulated Depreciation-Equipment Intangible Assets Patents Total Assets 27 69 $ Current Liabilities Notes and Accounts Payable Income Tax Payable Total Current Liabilities Long-term Liabilities Total Liabilities Stockholders' Equity > > > Total Liabilities and Stockholders' Equity 13 $ $ $ E