The Receivables account of Jennie Co. shows an amortized cost of $1,950,000 on December 31, 2019. The following information presents the subsidiary details: Trade accounts receivable - $725,000 Trade notes receivable - 100,000 Installments receivable, normally due one or two years - 300,000 Customers' accounts reporting credit balances arising from sales returns - (30,000) Advance payments for purchase of merchandise - 150,000 Customers' accounts reporting credit balances arising from advance payments - (20,000) Cash advances to subsidiary - 400,000 Claims from insurance company - 15,000 Subscription receivable due in 180 days - 300,000 Accrued rent receivable - 10,000 What amount should be presented as trade and other receivables under current assets?
The Receivables account of Jennie Co. shows an amortized cost of $1,950,000 on December 31, 2019.
The following information presents the subsidiary details:
Trade
Trade notes receivable - 100,000
Installments receivable, normally due one or two years - 300,000
Customers' accounts reporting credit balances arising from sales returns - (30,000)
Advance payments for purchase of merchandise - 150,000
Customers' accounts reporting credit balances arising from advance payments - (20,000)
Cash advances to subsidiary - 400,000
Claims from insurance company - 15,000
Subscription receivable due in 180 days - 300,000
Accrued rent receivable - 10,000
What amount should be presented as trade and other receivables under current assets?
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