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Balance sheet of patriot company

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Reference no: EM13548842

Patriot Company shows a balance of $241,140 in the Accounts Receivable account on December 31, 2012. The balance consists of the following

Installment accounts due in 2013

$23,000

Installment accounts due after 2013

34,000

Overpayments to creditors

2,640

Due from regular customers, of which $40,000 represents
accounts pledged as security for a bank loan

89,000

Advances to employees

1,500

Advance to subsidiary company (made in 2010)

91,000

Instructions

Illustrate how the information above should be shown on the balance sheet of Patriot Company on December 31, 2012.

Reference no: EM13548842

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