Practice Exercise 5-2 (Part Level Submission) The current assets and current liabilities sections of the balance sheet of Pharoah Co, appear as follows Pharoah Co. Balance Sheet (Partial) As of December 31, 2017 $28,500 13,600 3,500 $45,600 Cash 18,000 Accounts payable Accounts receivable $39,800 Notes payable Less: Allowance for doubtful accounts 2,700 37,100 Uneaned revenue 62,900 Total curent liabilities Prepaid expenses 6,700 Total current assets $124,700 The following errors in the corporation's accounting have been discovered 1. Keane collected 3,500 on December 20, 2017 as a down payment for services to be performed in January, 2018The company's controller recorded the amount as revenue. 2. The inventory amount reported included $4,300 of merchandise that had been received on December 31, 2017 but for which no purchase invoices had been received or entered. of this amount, $3,300 had been received on consignment; the remainder was purchased f.o.b, destination, terms 2/10, n/30. 3. Seles for the first day in January 2018 in the amount of $11,500 were entered in the seles journal as of Decermber 31, 2017. Of these, $6,000 were sales on account and the remainder were cash sales. 4. Cash, collected in December 2017, but entered as received in January 2018 totaled $2,900. of this amount, $2,646 was received on account after cash discounts of 2% had been deducted; the remainder was collected for cash sales S. Cash of $4,700 received in January 2018 was entered as received in December 2017. This cash represented the proceeds of a bank loan that matures in July 2018 6. January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $5,900, on which cash discount of 196 was taken. (a1) Calculate the following adjusted balances. Cash 73408.9 Accounts Receivable Accounts Payable s Notes Payable Unearned Revenue Click if you would like to Show Work for this question: Practice Exercise 5-2 (Part Level Submission) The current assets and current liabilities sections of the balance sheet of Pharoah Co, appear as follows Pharoah Co. Balance Sheet (Partial) As of December 31, 2017 $28,500 13,600 3,500 $45,600 Cash 18,000 Accounts payable Accounts receivable $39,800 Notes payable Less: Allowance for doubtful accounts 2,700 37,100 Uneaned revenue 62,900 Total curent liabilities Prepaid expenses 6,700 Total current assets $124,700 The following errors in the corporation's accounting have been discovered 1. Keane collected 3,500 on December 20, 2017 as a down payment for services to be performed in January, 2018The company's controller recorded the amount as revenue. 2. The inventory amount reported included $4,300 of merchandise that had been received on December 31, 2017 but for which no purchase invoices had been received or entered. of this amount, $3,300 had been received on consignment; the remainder was purchased f.o.b, destination, terms 2/10, n/30. 3. Seles for the first day in January 2018 in the amount of $11,500 were entered in the seles journal as of Decermber 31, 2017. Of these, $6,000 were sales on account and the remainder were cash sales. 4. Cash, collected in December 2017, but entered as received in January 2018 totaled $2,900. of this amount, $2,646 was received on account after cash discounts of 2% had been deducted; the remainder was collected for cash sales S. Cash of $4,700 received in January 2018 was entered as received in December 2017. This cash represented the proceeds of a bank loan that matures in July 2018 6. January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $5,900, on which cash discount of 196 was taken. (a1) Calculate the following adjusted balances. Cash 73408.9 Accounts Receivable Accounts Payable s Notes Payable Unearned Revenue Click if you would like to Show Work for this