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Reported as current liabilities on balance sheet

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Reference no: EM131287822

The accounts and balances shown below were gathered from Pastel Corporation’s trial balance on December 31, 2014. All adjusting entries have been made.

Wages Payable ....................     $ 25,600

Cash .............................    17,700

Mortgage Payable .................   151,600

Dividents Payable ................   14,000

Prepaid rent .....................   13,600

Inventory ........................   81,800

Sinking Fund Assets ..............   52,400

Short-Term Investments ...........   15,200

Premium on Bonds Payable .........   4,600

Stock Investment in Subsidiary ...   102,400

Taxes Payable ....................   22,800

Accounts Payable .................   24,800

Accounts Receivable ..............   36,600

See information for Pastel Corporation above. The amount that should be reported as current liabilities on Pastel Corporation’s balance sheet is

   a.   $73,200.   

    b.   $87,200.   

    c.   $238,800.   

    d.   $91,800.

Reference no: EM131287822

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