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How much is the total current assets

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Reference no: EM132813340

The ledger of Kim Co. as of December 31, 2021 includes the following:

Cash Equivalents- P20,000
Accounts receivables (net of P20,000 credit balance in accounts)- P80,000
Loan receivable (due in 20 semi-annual payments of P8,000)- P160,000
Cash - P70,000
Notes receivable (due on March 31, 2022)- P140,000
Discount on notes receivable- P60,000
Petty Cash Fund- P10,000
Contingent assets- P24,000
Deferred tax assets (expected to reverse in 2022)- P72,000
Inventories - P88,000
Property, plant and equipment, net- P200,000

Problem 1: How much is the total current assets?

Reference no: EM132813340

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