Shamrock Company shows a balance of $236,570 in the Accounts Receivable account on December 31, 2020

Accounting Aug 19, 2020

Shamrock Company shows a balance of $236,570 in the Accounts Receivable account on December 31, 2020. The balance consists of the following.

Installment accounts due in 2021 $24,100

Installment accounts due after 2021 35,300

Overpayments to vendors 2,920

Due from regular customers, of which $39,720 represents accounts pledged as security for a bank loan 85,000

Advances to employees 2,450

Advance to subsidiary company (due in 2021) 86,800

Illustrate how the information above should be shown on the balance sheet of Shamrock Company on December 31, 2020. Assume that installment accounts collectible due after December 31, 2018 (Customers) are collectible within the operating cycle of the business. The company's operating cycle is such that all installment receivables are classified as current.

SHAMROCK COMPANY

Balance Sheet (Partial)

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