Question: Determining Current Assets and Current Liabilities from Other Accounts Given the following normal account balances, determine the missing amounts from a balance sheet dated December

Determining Current Assets and Current Liabilities from Other Accounts Given the following normal account balances, determine the missing amounts from a balance sheet dated December 31. Given amounts Dec 31 Equipment, net $27,000 Patent 6,000 Notes payable (long-term) 8,000 Common stock 18,000 Retained earnings 5,000 Total liabilities 20,000 Note: There are no other missing amounts. Missing amounts Dec 31 Total current assets Total current liabilities

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