EX 8-25 Receivables on the balance sheet
List any errors you can find in the following partial balance sheet:
|
Napa Vino Company |
|||
|
Assets |
|||
|
Current assets: |
|||
|
Cash |
$ 78,500 |
||
|
Notes receivable |
$ 300,000 |
||
|
Less interest receivable |
4,500 |
295,500 |
|
|
Accounts receivable |
$1,200,000 |
||
|
Plus allowance for doubtful accounts |
11,500 |
1,211,500 |
|