How the information should be shown on the statement

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Reference no: EM132822427

Pieck Cart Company shows a balance of P2,411,400 in the Accounts Receivable account on December 31, 2019. The balance consists of the following.

Installment accounts due in 2020                                                P 230,000
Installment accounts due after 2020 (within the operating cycle)         340,000
Overpayments to creditors                                                                26,400
Due from regular customers, of which €40,000 represents accounts pledged as security for a bank loan          890,000
Advances to employees                           15,000
Advances to subsidiary (made in 2017)     910,000

Required:

Problem 1: Illustrate how the information should be shown on the statement of financial position

Reference no: EM132822427

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