WAF Company's general ledger included the following accounts at November 30, 2014: Accounts payable ....................................... $145,500 Accounts
Question:
Accounts payable ....................................... $145,500
Accounts receivable .................................... 109,000
Allowance for doubtful accounts ..................... 6,950
Bad debt expense ....................................... 35,970
Cash ...................................................... 74,000
GST recoverable ........................................ 21,850
Interest receivable ...................................... 2,500
Interest revenue ........................................ 10,000
Merchandise inventory ................................ 110,800
Note receivable-due April 23, 2015 ............... 50,000
Note receivable-due May 21, 2018 ................ 150,000
Prepaid expenses .............................................. 15,300
Short-term investments .................................... 80,500
Prepare the current assets section of the balance sheet.
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Related Book For
Accounting Principles Part 2
ISBN: 978-1118306796
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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