Solution-What amount should be included in the current

What amount should be included in the current assets section

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Reference no: EM132778584

Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021:

Accounts receivable $12,600

Inventory 41,000

Patent 13,700

Investments 31,400

Prepaid insurance 7,600

Notes receivable, due 2024 50,400

Investments consist of treasury bills that were purchased in November, 2021, and mature in January, 2022. The balance of prepaid insurance represents coverage over the next two years.

Problem 1: What amount should be included in the current assets section of Janson's December 31, 2021, balance sheet?

Problem 2: Do you count the prepaid insurance in the full amount or do you only use year one value?

Reference no: EM132778584

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What amount should be included in the current assets section

Reference no: EM132778584

Reference no: EM132778584

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