Reference no: EM132810221

The Receivables account of Jennie Co. shows an amortized cost of $1,950,000 on December 31, 2019.

The following information presents the subsidiary details:

Trade accounts receivable - $725,000

Trade notes receivable - 100,000

Installments receivable, normally due one or two years - 300,000

Customers' accounts reporting credit balances arising from sales returns - (30,000)

Advance payments for purchase of merchandise - 150,000

Customers' accounts reporting credit balances arising from advance payments - (20,000)

Cash advances to subsidiary - 400,000

Claims from insurance company - 15,000

Subscription receivable due in 180 days - 300,000

Accrued rent receivable - 10,000

Problem 1: What amount should be presented as trade and other receivables under current assets?