On the Basis of the Following Data Related to Current

Essay

On the basis of the following data related to current assets for Mission Co.at December 2016, prepare a partial balance sheet in good form. $$\begin{array} { l r } \text { Cash and cash equivalents } & \$ 100,000 \\\text { Notes receivable } & 50,000 \\\text { Accounts receivable } & 290,000 \\\text { Allowance for doubtful accounts } & 20,000 \\\text { Interest receivable } & 750 \\\text { Merchandise inventory at lower-of-cost-(first-in, first-out method) or-market } & 120,000\end{array}$$