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On the Basis of the Following Data Related to Assets

Question 118

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On the basis of the following data related to assets due within one year for Webb Co., prepare a partial balance sheet in good form at December 31. Show total current assets.  Cash $96,000 Notes receivable 50,000 Accounts receivable 275,000 Allowance for doubtful accounts 40,000 Interest receivable 1,000\begin{array} { l r } \text { Cash } & \$ 96,000 \\\text { Notes receivable } & 50,000 \\\text { Accounts receivable } & 275,000 \\\text { Allowance for doubtful accounts } & 40,000 \\\text { Interest receivable } & 1,000\end{array}

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