Problem

At the end of the year, Johnson’s Manufacturing Corporation had the following balances:...

At the end of the year, Johnson’s Manufacturing Corporation had the following balances:

Work in process

 $ 52 000

Cash and cash equivalents

 346, 000

Finished goods

 85,600

Raw materials

 33, 000

Accounts receivable

237,000

Prepare a partial balance sheet for Johnson’s showing the above accounts.

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