On the December 31, 2006 balance sheet of Mann Co., the current receivables consisted of the following:
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Trade accounts receivable |
$ 93,000 |
Allowance for uncollectible accounts |
(2,000) |
Claim against shipper for goods lost in transit (November 2006) |
3,000 |
Selling price of unsold goods sent by Mann on consignment at 130% of cost (not included in Mann’s ending inventory) |
26,000 |
Security deposit on lease of warehouse used for storing some inventories |
30,000 |
Total |
$150,000 |
At December 31, 2006, the correct total of Mann’s current net receivables was
- $ 94,000
- $120,000
- $124,000
- $150,000