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Asked Mar 23, 2020
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Prepare the current assets section of the balance sheet for Gavin Company. Assume that in addition to the receivables it has cash of $90,000, inventory of $130,000, and prepaid insurance of $7,500. (List Current Assets in order of liquidity.)

Prepare the current assets section of the balance sheet for Gavin Company. Assume that in addition to the receivables it has cash of $90,000, inventory
of $130,000, and prepaid insurance of $7,500. (List Current Assets in order of liquidity.)
Gavin Company
Balance Sheet (Partial)
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Prepare the current assets section of the balance sheet for Gavin Company. Assume that in addition to the receivables it has cash of $90,000, inventory of $130,000, and prepaid insurance of $7,500. (List Current Assets in order of liquidity.) Gavin Company Balance Sheet (Partial) 2$

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Current Assets: Current assets are those assets which can be converted into cash and cash equivalents with in a year. Current assets in...

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