Dorman Company had the following items to report on its balance sheet:Employee advances$ 1,580Amounts owed by customers for the sale of services (due in 30 days)3,050Refundable income taxes1,120Interest receivable950Accepted a formal instrument of credit for services (due in 18 months)2,220A loan to company president10,000Based on this information, what amount should appear in the "Other Receivables" category?

Answered: Dorman Company had the following items…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter9: Accounting For Purchases And Cash Payments

Section: Chapter Questions

Problem 1AP

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Dorman Company had the following items to report on its balance sheet:

Employee advances	$ 1,580
Amounts owed by customers for the sale of services (due in 30 days)	3,050
Refundable income taxes	1,120
Interest receivable	950
Accepted a formal instrument of credit for services (due in 18 months)	2,220
A loan to company president	10,000

Based on this information, what amount should appear in the "Other Receivables" category?

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