The following trial balance of Trey Co. at December 31, 20X5 has been adjusted except for...

 

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The following trial balance of Trey Co. at December 31, 20X5 has been adjusted except for income tax expense. Cr. Cash Accounts Receivable, net Prepaid taxes Accounts payable Common stock Additional paid-in capital Retained earnings Foreign currency translation adjustment Revenues Expenses Dr. $550,000 1,650,000 300,000 430,000 O $2,200,000 © $2,500,000 $2,250,000 O $1.950,000 2,600,000 $5,530,000 $120,000 500,000 680,000 630,000 3,600,000 $5,530.000 Additional information: During 20X5, estimated tax payments of $300,000 were charged to prepaid taxes. Trey has not yet recorded income tax expense. There were no differences between the financial statement and the income tax income, and Trey's tax rate is 30% Included in accounts receivable is $500,000 due from a customer. Special terms granted to this customer require payments in equal, semiannual installments of $125,000 every April 1 and October 1. In Trey's December 31, 20x5 Balance Sheet, what amount should be reported as total current assets? The following trial balance of Trey Co. at December 31, 20X5 has been adjusted except for income tax expense. Cr. Cash Accounts Receivable, net Prepaid taxes Accounts payable Common stock Additional paid-in capital Retained earnings Foreign currency translation adjustment Revenues Expenses Dr. $550,000 1,650,000 300,000 430,000 O $2,200,000 © $2,500,000 $2,250,000 O $1.950,000 2,600,000 $5,530,000 $120,000 500,000 680,000 630,000 3,600,000 $5,530.000 Additional information: During 20X5, estimated tax payments of $300,000 were charged to prepaid taxes. Trey has not yet recorded income tax expense. There were no differences between the financial statement and the income tax income, and Trey's tax rate is 30% Included in accounts receivable is $500,000 due from a customer. Special terms granted to this customer require payments in equal, semiannual installments of $125,000 every April 1 and October 1. In Trey's December 31, 20x5 Balance Sheet, what amount should be reported as total current assets?

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