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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
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