preparing a current asset section along with note disclosures

Preparing a Current Asset Section along with Note Disclosures The following selected normal balances are from the possciosing trial balance of who inc. as of December 31. Additianal infarmation 1. included in the cach balance is $45,000 of cash restricted for 16 montis due to a debt agreement. 2. Induded in imestmenes is $50.400 of short term investments at fair value, and the remaining is long term, also recognized at fair value: 3.54 of the acceunts recenable balance of 5135.000 is estimated to be uncollectible. 4. inventory is valued at the lower of cost or market. The cost value is determined using the UFO method 5. The note recevable of 5180.000 is due in 21 month. The interest rate is ow, and the note originated on September 30 of the current year, Interest ia paid quanterly with the frst payment due Linuary 1 of next year. a. Prepare thit curnent asset section of the class fied balance sheet on December 31 . Wote: Do not use negative wegs with any of your antwers. Prepare the current asset section of the classified balance sheet on December 31. Note: Do not use negatlve signs with any of your answers. Preparing a Current Asset Section along with Note Disclosures The following selected normal balances are from the postelosing trial balance of who inc, as of December 31 . Additional information 1. included in the cash balance is $45.000 of cash restricted for 18 months due to a debt agreement: 2. Included in investments is 550,400 of short term investments at fair value, and the remaining is longterm, also recognized at fair value. 3.5% of the accounts receivable balance of 5135000 is estimated to be uncollectible. 4. Inventory is valued at the lower of cost or market. The cost value is determined using the 4F0 method 5. The note recelvable of $180,000 is due in 25 months. The interest rate is 6 k, and the note onginated on 5 eptember 30 of the current year. interest is paid quarterly with the fitst payment du january t of neityear. a. Prepare the current asser section of the classified balance sheet on December 31 . Note Do notusenegatiye siens with any of your answers a. Prepare the current asset section of the ciastified balance sheet on December 31. Note: Da not use negative signs with ary of your answers