The Following Are the Current Assets of Barnes Co Prepare the Current Assets Section of the Balance Sheet

question 103

Essay

The following are the current assets of Barnes Co.as of December 31:
$\begin{array}{|l|r|}\hline \text { Accounts Receivable } & \$ 38,000 \\\hline \text { Allowance for Doubtful Accounts } & 5,000 \\\hline \text { Cash } & 45,000 \\\hline \text { Interest Receivable } & 5,500 \\\hline \text { Merchandise Inventory } & 88,000 \\\hline \text { Notes Receivable } & 100,000 \\\hline\end{array}$
Prepare the current assets section of the balance sheet.

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Definitions:

Transfer Price

The price at which divisions of a company transact with each other for goods or services.

Valve Division

A specialized business unit within a company that focuses on the production and sales of valve products.

Outside Customers

Individuals or entities that purchase a company's products or services but are not part of the company itself.

Maintenance Department

A segment within a company responsible for the upkeep and repair of equipment, ensuring that operations run smoothly and efficiently.