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Prepare the non-current assets section of the balance sheet

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Reference no: EM132404591

Question

The December 31, 2017, adjusted trial balance of Odom Company includes the following accounts:

Supplies$ 2,900 Land$ 85,000 Notes payable (due March 1, 2019) 28,000 Buildings 125,000 Accumulated depreciation-equipment 25,800 Patents 12,300 Equipment 43,000 Goodwill 5,520 Accumulated depreciation-building 37,400 Merchandise inventory 14,000 Notes receivable (due April 1, 2018) 7,800

Determine which accounts are non-current assets and prepare the non-current assets section of the balance sheet as at December 31, 2017.

Reference no: EM132404591

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