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9 March, 09:22

Baugh and Essary reports the following account balances: inventory of $17,600, equipment of $128,300, accounts payable of $24,700, cash of $11,900, and accounts receivable of $31,900. What is the amount of the current assets?

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  1. 9 March, 13:22
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    amount of current assets is $61400

    Explanation:

    given data

    inventory = $17600

    equipment = $128300

    accounts payable = $24700

    cash = $11900

    accounts receivable = $31900

    to find out

    the amount of the current assets

    solution

    we know here that current assets have cash and inventory and account receivable and

    account payable is current liability

    and equipment is long term assets

    so

    we can say current assets will be

    current assets = inventory + cash + account receivable ... 1

    put here value

    current assets = 17600 + 11900 + 31900

    current assets = $61400

    So, current assets = 11,900+17,600+31,900 = 61,400 (Answer)
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