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

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.

Cash

$

Accounts Receivable

$

Inventory

$

Accounts Payable

$

Notes Payable

$