Business, 24.02.2020 19:48 thhfvbjurddee

The following trial balance of JB Company at December 31, 2017, has been adjusted except for income taxes. The income tax rate is 30%. DR CR Accounts receivable, net $725,000 Accounts payable 250,000 Accumulated depreciation 125,000 Cash 185,000 Contributed capital 650,000 Expenses 3,750,000 Goodwill 140,000 Prepaid taxes 225,000 Property, plant, and equipment 850,000 Retained earnings, 1/1/2017 350,000 Revenues 4,500,000 5,875,000 5,875,000 During 2017, estimated tax payments of $225,000 were paid and debited to prepaid taxes. There were no differences between financial statement and taxable income for 2017. Included in accounts receivable is $400,000 due from a loyal customer. Special terms were granted to this customer to make payments of $100,000 semi-annually every March 1 and September 1. In JB Company's December 31, 2017 Balance Sheet, what amount should be reported as current assets?

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The following trial balance of JB Company at December 31, 2017, has been adjusted except for income...

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