please help answer the attached. 1.A company had the following accounts and balances on December 31, 2020:$ 6,0004,0001,5008,000Discount on short-term notes payable $ 620Allowance for Doubtful AccountsAccounts ReceivableAccounts PayableSalaries PayableShort -term note payable400Current Maturity of Long-term debtInterest Receivable2,000200Unearned Revenue1,300Bond Payable, due Jan. 2026Estimated LiabilityLong-term note payableInventoryPrepaid ExpensesAccumulated Depreciation9,0001,50010,0001,4006,000800How much should the company report as current liabilities on December 31, 2020?A. $15,580B. $17,580C. $18,820D. $16,960E. $16,180

Current Liabilities of a company consist of Short - term financial obligations that are due…

A company had the following accounts and balances on December 31, 2020: Accounts Receivable $ 6,000 Discount on short-term notes payable $ 620 Accounts Payable Salaries Payable Short -term note payable Unearned Revenue 4,000 Allowance for Doubtful Accounts 400 2,000 Current Maturity of Long-term debt Interest Receivable Inventory Prepaid Expenses Accumulated Depreciation 1,500 8,000 200 1,300 9,000 1,500 Bond Payable, due Jan. 2026 10,000 Estimated Liability Long-term note payable 1,400 800 6,000 How much should the company report as current liabilities on December 31, 2020? A. $15,580 B. $17,580 C. $18,820 D. $16,960 E. $16,180

A company had the following accounts and balances on December 31, 2020: Accounts Receivable $ 6,000 Discount on short-term notes payable $ 620 Accounts Payable Salaries Payable Short -term note payable Unearned Revenue 4,000 Allowance for Doubtful Accounts 400 2,000 Current Maturity of Long-term debt Interest Receivable Inventory Prepaid Expenses Accumulated Depreciation 1,500 8,000 200 1,300 9,000 1,500 Bond Payable, due Jan. 2026 10,000 Estimated Liability Long-term note payable 1,400 800 6,000 How much should the company report as current liabilities on December 31, 2020? A. $15,580 B. $17,580 C. $18,820 D. $16,960 E. $16,180

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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