EX 9-25 Receivables on the balance sheet

List any errors you can find in the following partial balance sheet:

Tulips Company

Balance Sheet

December 31, 2012

Assets

Current assets:

Cash

$138,000

Notes receivable

$400,000

Less interest receivable

20,000

380,000

Accounts receivable

$795,000

Plus allowance for doubtful accounts

14,500

809,500