Mare Co.'s December 31 balance sheet reported the following current assets: | |
|---|
| Cash | $ 70,000 | | Accounts receivable | 120,000 | | Inventories | 60,000 | | Total | $ 250,000 |
An analysis of the accounts disclosed that accounts receivable consisted of the following: Trade accounts | $ 96,000 | Allowance for uncollectible accounts | (2,000) | Selling price of Mare's unsold goods out on consignment, at 130%
of cost, not included in Mare's ending inventory | 26,000 | Total | $ 120,000 |
Selling price of Mare's unsold goods out on consignment, at 130%At December 31, the total of Mare's current assets is:
|
a. | $244,000 | |
b. | $230,000 | |
c. | $270,000 | |
d. | $224,000 |
|
