Mars Corp. has the following account balances at
12/31/X1:
Homework Answers
Answer
--Total Asset balance = $ 612,000
| Cash | $10,000 | ||
| Accounts receivables | $200,000 | ||
| Allowance for Uncollectible accounts | ($15,000) | $185,000 | |
| Inventory | $75,000 | ||
| Prepaid Insurance | $2,000 | ||
| Machinery | $400,000 | ||
| Accumulated Depreciation | ($60,000) | $340,000 | |
| Total Assets | $612,000 | Answer |
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Mars Corp. has the following account balances at
12/31/X1:
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