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III. PROBLEM SOLVING. Directions: Solve the following problem solving given. Show your solution. AVOID ERASURES! Prepare a Statement of Financial Position for Pinklane Company as of December 31, 2017. USE REPORT FORM. ACCOUNTS TITLE DEBIT CREDIT 1110 CASH IN BANK P 123, 153 1120 PETTY CASH FUND 10,000 1130 ACCOUNTS RECEIVABLE 659, 340 1131 ALLOWANCE FOR BAD DEBTS P 15, 000 1140 NOTES RECEIVABLE 132, 200 1150 MERCHANDISE INVENTORY 774, 307 1160 PREPAID EXPENSES 3, 200 1210 FURNITURE AND FIXTURE 900, 000 1211 ACCUMULATED DEPRECIATION (FURNITURE & FIXTURE) 45, 000 1220 TRANSPORTATION EQUIPMENT 1, 400, 000 1221 ACCUMULATED DEPRECIATION (TRANSPORTATION EQUIPMENT) 140, 000 2110 ACCOUNTS PAYABLE 460, 300 2120 NOTES PAYABLE 234, 000 2130 SSS, PHILHEALTH, HDMF PAYABLE 4, 000 2140 LOANS PAYABLE 302, 600 2150 MORTGAGE PAYABLE 201, 300 3110 PINKY RAMOS, CAPITAL 2, 600, 000 TOTALS P 4, 002, 200 P 4, 002, 200