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Cobb Company's current receivables from affiliated companies at December 31, 2011, are (1) a $75,000 cash advance to Hill Corporation (Cobb owns 30 percent of the voting stock of Hill and accounts for the investment by the equity method), (2) a receivable of $260,000 from Vick Corporation for administrative and selling services (Vick is 100 percent owned by Cobb and is included in Cobb's consolidated financial statements), and (3) a receivable of $200,000 from Ward Corporation for merchandise sales on credit (Ward is a 90 percent-owned, unconsolidated subsidiary of Cobb accounted for by the equity method).
Problem 1: In the current assets section of its December 31, 2011, consolidated balance sheet, Cobb should report accounts receivable from investees in the amount of:
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