The data related to JK company is given below: Income tax payable $61,250 $17,500 $24,400 $5,000 $4,320 $6,000 $1,000 $67,500 Allowance for doubtful accounts Accounts payable Interest receivable Unearned revenue Wages payable Notes payable Accounts receivable Discount on notes payable $150 Among the given options, determine the current assets of JK company. a. $72,500 b. $67,500 c. $55,000 d. $59,320
The data related to JK company is given below: Income tax payable $61,250 $17,500 $24,400 $5,000 $4,320 $6,000 $1,000 $67,500 Allowance for doubtful accounts Accounts payable Interest receivable Unearned revenue Wages payable Notes payable Accounts receivable Discount on notes payable $150 Among the given options, determine the current assets of JK company. a. $72,500 b. $67,500 c. $55,000 d. $59,320
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...
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![The data related to JK company is given below:
Income tax payable
$61,250
$17,500
$24,400
$5,000
$4,320
$6,000
$1,000
Allowance for doubtful accounts
Accounts payable
Interest receivable
Unearned revenue
Wages payable
Notes payable
Accounts receivable
$67,500
Discount on notes payable
$150
Among the given options, determine the current assets of JK company.
a. $72,500
b. $67,500
c. $55,000
d. $59,320](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe6470b90-678a-4dec-b1ed-178f33480a49%2F58c0cebe-99e7-4d18-b87b-c96b12734373%2Fnovicln_processed.png&w=3840&q=75)
Transcribed Image Text:The data related to JK company is given below:
Income tax payable
$61,250
$17,500
$24,400
$5,000
$4,320
$6,000
$1,000
Allowance for doubtful accounts
Accounts payable
Interest receivable
Unearned revenue
Wages payable
Notes payable
Accounts receivable
$67,500
Discount on notes payable
$150
Among the given options, determine the current assets of JK company.
a. $72,500
b. $67,500
c. $55,000
d. $59,320
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