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Question - On June 12, Carpenter Printing printed $19,512 in magazines for the Pierre Company. The magazines were delivered on June15, along with an invoice for $6,441 due July 15. Per the contract negotiated by the Pierre Company with Carpenter Printing,$4,648 will be invoiced in July and will be due August 15; the remainder will be invoiced in August and will be due September15. On June 18, Cecil Advertising Agency signed a contract with Carpenter Printing to print advertisements, paying $21,341 in advance. $10,987 in advertisements are contracted to be printed in June and $27,527 in advertisements are contracted to be printed in July. On June 30, $11,478 of advertisements were printed and delivered to Cecil Advertising. On June 30, $2,615of the $16,019 in supplies remaining on May 31 have not been used.
Required - Based on these transactions alone, what is the effect on the Total Current Liabilities on the Balance Sheet on June 30?
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