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What is the effect on the Total Current Liabilities

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Question - On June 12, Carpenter Printing printed $19,156 in magazines for the Pierre Company. The magazines were delivered on June15, along with an invoice for $6,219 due July 15. Per the contract negotiated by the Pierre Company with Carpenter Printing,$5,382 will be invoiced in July and will be due August 15; the remainder will be invoiced in August and will be due September 15. On June 18, Cecil Advertising Agency signed a contract with Carpenter Printing to print advertisements, paying $24,171 in advance. $11,253 in advertisements are contracted to be printed in June and $29,619 in advertisements are contracted to be printed in July. On June 30, $13,123 of advertisements were printed and delivered to Cecil Advertising. On June 30, $1,509of the $15,864 in supplies remaining on May 31 have not been used.

Based on these transactions alone, what is the effect on the Total Current Liabilities on the Balance Sheet on June 30?

Reference no: EM132570705

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