Hendrickson Corporation's Trial Balance for July 31, the End of Its

Multiple Choice

Hendrickson Corporation's trial balance for July 31, the end of its fiscal year, included the following accounts: $$\begin{array} { | l | r | } \hline \text { Accounts Receivable } & \$ 21,000 \\\hline \text { Inventories } & 57,000 \\\hline \text { Copyright } & 18,000 \\\hline \text { Investments } & 41,000 \\\hline \text { Prepaid Insurance } & 6,000 \\\hline \text { Note receivable, due in two years } & 74,000 \\\hline \text { Cash in Bank } & 4,500 \\\hline\end{array}$$ Investments are treasury bills that were purchased in May and mature on August 15. Prepaid insurance is a three-year policy that was purchased on July 31.
The amount that should be classified as current assets in the July 31 balance sheet is ________.

A) $129,500
B) $125,500
C) $82,000
D) $199,500