Exercise 5-9 (Part Level Submission) The current assets and current liabilities sections of the balance sheet of Sage Company appear as follows. SAGE COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2017 Cash $ 40,200 Accounts payable Accounts receive $95,700 Notes payable Less: Allowance for doubtful accounts 7,000 57.000 Inventory Prepaid expenses 9,220 $305,570 $ 55,200 70,390 $125,590 The following errors in the corporation's accounting have been discovered 1. January 2018 cash disbursements entered as of December 2017 Included payments of accounts payable in the amount of $42,000, on which a cash discount of 25 was taken 2. The inventory included $27,650 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered of this amount $12.860 had been received on consignment: the remainder was purchased to destination, terms 2/10, 1/30 3. Sales for the first four days in January 2018 in the amount of $30,710 were entered in the sales journal as of December 31, 2017. Of these, $19,950 were sales on account and the remainder were cash sales 4. Cath, not indudno.ch, collected in January 2018 and entered as of December 31, 2017, totaled $36,108 of this amount, $24,108 was received on account after cash discounts of 2% had been deducted the remainder represented the proceeds of a bank loan. (1) Calculate the following adjusted balances. Cash Accounts Receivable $ Inventory Accounts Payable Notes Payable