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 |
Illustrate how the information above should be shown on the balance sheet of Patriot Company on December 31, 2012.