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What is the amount for the company current liabilities

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Reference no: EM132967590

Gibson, Pty, Ltd. a retailer, reports the following information:

Accounts Payable $600

Accounts Receivable $5,200

Cash $7,000

Loan Payable in 6 months $4,400

Revenue received in advance $12,000

Bank Loan - Mortgage $30,000

Retained Profits $7,800

Inventory $10,200

Buildings $17,600

Office Supplies $1,600

Problem 1: What is the most likely amount for the company's current liabilities?

Select one:

a. $35,000.

b. $17,000.

c. $600.

d. $47,000.

e. $5,000.

Reference no: EM132967590

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