The following data are available for purposes or stating the financial position of G Company on December
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The following data are available for purposes or stating the financial position of G Company on December 21, 2020:
Cash, including sinking fund of P500, 000 with trustee | 2, 000, 000 |
Notes receivable (P200, 000 pledged) | 1, 200, 000 |
Accounts receivable - assigned | 800, 000 |
Note receivable discounted | 700, 000 |
Equity of assignee in accounts receivable assigned | 500, 000 |
Inventory, including P600,000 cost of goods in transit purchased FOB destination. The goods were received on January 15, 2021. | 2, 800, 000 |
Allowance for doubtful accounts | 100, 000 |
How many current assets should be shown in the statement of financial position of December 31, 2020?
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