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The current assets and current liabilities sections of the balance sheet of Marin Company appear as follows

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The current assets and current liabilities sections of the balance sheet of Marin Company appear as follows. MARIN COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2020 Cash $ 41,300 Accounts receivable $96,300 Less: Allowance for doubtful accounts 7,840 88,460 Inventory 169,820 Prepaid expenses 8,620 $308,200 Accounts payable Notes payable $ 58,430 63,280 $121,710 The following errors in the corporation's accounting have been discovered: 1. 2. January 2021 cash disbursements entered as of December 2020 included payments of accounts payable in the amount of $41,800, on which a cash discount of 2% was taken. The inventory included $28,590 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $11,340 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30. Sales for the first four days in January 2021 in the amount of $28,680 were entered in the sales journal as of December 31, 2020. Of these, $21,510 were sales on account and the remainder were cash sales. Cash, not including cash sales, collected in January 2021 and entered as of December 31, 2020, totaled $35,520. Of this amount, $23,520 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan. 3. 4
(a1) Your answer is correct. Calculate the following adjusted balances. Cash $ LA 39574 Accounts Receivable $ 98790 Inventory $ 158480 Accounts Payable 117480 $ $ Notes Payable 51280
MARIN COMPANY Balance Sheet (Partial) Asset $ $ v: $ Liabilities and Stockholders' Equity $ $ $