Question

Carrie Heffernan, Inc., has the following assets at the end of the year: Petty cash fund...

Carrie Heffernan, Inc., has the following assets at the end of the year:

Petty cash fund $1,000
Cash in checking account 13,000
Time deposits 12,000
Accounts Receivable 40,000
Short-Term Investments 22,000
Investments in high-grade government securities, maturing in 90 days (at time of purchase) 14,000
Cash restricted under a compensating balance agreement on a short-term loan 100,000
Prepaid Rent 20,000
Supplies 12,000
Prepare the current assets section of the balance sheet for this company.


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