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How much is the current asset

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Reference no: EM132960943

Question - ABC Corporation presented the following information as of December 31, 2020:

Deferred tax liability 125,000

Deferred tax asset 50,000

Notes receivable, payable in 3 equal annual installments 1,500,000

Cash in bank - BPI account no.101 150,000

Cash in bank - BPI account no.102 (overdraft) (20,000)

Petty cash fund, includes unreplenished vouchers for Php18,000 30,000

Time deposit, 60 days 40,000

Time deposit, 120 days 80,000

Required - How much is the current asset?

a. 762000

b. 780000

c. 782000

d. 760000

Reference no: EM132960943

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