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Amarisk, Inc. shows a balance of $529,720 in the Accounts Receivable account on December 31, 2020. The balance consists of the following:
Instalment accounts due in 2021 $92,000, Instalment accounts due after 2021 81,000, Overpayments to creditors. 12,700 Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan. 165,000Advances to employees 70,020Advance to subsidiary company (made in 2015)109,000.
total $529,720
Problem 1: Show how the information should be presented on the statement of financial position of Tamarisk, Inc. at December 31, 2020.
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