Reference no: EM133077698
Question - The following data are made available for the purpose of stating the financial position of Bo Co. on December 31, 2020.
Cash and cash equivalents (including sinking fund of P162,500 with trustee) P650,000
Notes receivable (P65,000 pledged) 390,000
Accounts receivable, net of allowance for bad debts 256,750
Inventory, including P195,000 cost of goods still in transit purchased FOB shipping point. The goods were received January 3, 2021. 910,000
Required - How much current assets should be shown in the statement of financial position at December 31, 2020?
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