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What amount should be reported as total current asset

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Reference no: EM132994540

Love Company reported the following account balances at December 31, 2024:

Accounts receivable (net) 550,000

Trading securities 1,200,000

Accumulated depreciation on equipment and furniture 350,000

Cash 200,000

Inventory 600,000

Equipment and furniture 2,500,000

Patent 120,000

Deferred charges 40,000

Land held for future business site 800,000

Problem 1: What amount should be reported as total current asset?

Group of answer choices

Option 1: 2,550,000

Option 2: 2,590,000

Option 3: 3,390,000

Option 4: 1,390,000

Reference no: EM132994540

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