Patriot Company shows a balance of $241,140 in the Accounts Receivable account on December 31, 2012. The balance consists of the following
|
Installment accounts due in 2013
|
$23,000
|
|
Installment accounts due after 2013
|
34,000
|
|
Overpayments to creditors
|
2,640
|
|
Due from regular customers, of which $40,000 represents
accounts pledged as security for a bank loan
|
89,000
|
|
Advances to employees
|
1,500
|
|
Advance to subsidiary company (made in 2010)
|
91,000
|
Instructions
Illustrate how the information above should be shown on the balance sheet of Patriot Company on December 31, 2012.