The December 31, 2021 statement of financial position of Mulan Company showed the current receivables with the following details: Trade accounts receivable Allowance for doubtful accounts Claims against shipper for goods lost in transit last month Goods out on consignment at 30% above cost Security deposit on lease of warehouse to store some inventories TOTAL OP 240,000 OP 188,000 OP 300,000 186,000 OP 248,000 (4,000) 6,000 52,000 QUESTION: What is the correct current net receivables of Mulan Company at December 31, 2021? 60,000 300,000 4

The December 31, 2021 statement of financial position of Mulan Company showed the current receivables with the following details: Trade accounts receivable Allowance for doubtful accounts Claims against shipper for goods lost in transit last month Goods out on consignment at 30% above cost Security deposit on lease of warehouse to store some inventories TOTAL OP 240,000 OP 188,000 OP 300,000 186,000 OP 248,000 (4,000) 6,000 52,000 QUESTION: What is the correct current net receivables of Mulan Company at December 31, 2021? 60,000 300,000 4

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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