Current assets and liabilities, assignment help- COURSE FIGHTER | coursefighter.com

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Current assets and liabilities, assignment help- COURSE FIGHTER | coursefighter.com

I am confused on this problem. Need help on how to get the answer for the cash line and accounts receivables line? I can try to get the other ones myself. Just need the first two answers and explain how you got the answer so I can understand how you got the answer.

Cash $ 44,300 Accounts payable $ 58,160 Accounts receivable $94,400 Notes payable 66,420 Less: Allowance for doubtful accounts 7,400 87,000 $124,580 Inventory 174,040 Prepaid expenses 9,210 $314,550 The following errors in the corporation’s accounting have been discovered: 1. January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $39,900, on which a cash discount of 2% was taken. 2. The inventory included $30,450 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,920 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. 3. Sales for the first four days in January 2018 in the amount of $28,760 were entered in the sales journal as of December 31, 2017. Of these, $21,910 were sales on account and the remainder were cash sales. 4. Cash, not including cash sales, collected in January 2018 and entered as of December 31, 2017, totaled $33,168. Of this amount, $21,168 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.

(a1) Calculate the following adjusted balances. Cash $ Accounts Receivable $ Inventory $ Accounts Payable $ Notes Payable $

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