Emily had the following transactions during 2016:
What is Emily's AGI for 2017?
Definitions:
Current Assets
Assets that are expected to be converted into cash, sold, or consumed within a year or within the business's operating cycle, whichever is longer.
Prepaid Insurance
An asset account that represents insurance payments made in advance for future coverage periods.
Accounts Receivable
Money owed to a company by customers for products or services that have been delivered or used, but not yet paid for.
Long-term Liabilities
Debts or obligations that are due beyond the next twelve months.
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