On the december 31 2012 balance sheet of vanoy co. the, Ask an Expert

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On the December 31, 2012 balance sheet of Vanoy Co., the current receivables consisted of the following:
Trade accounts receivable $ 60,000
Allowance for uncollectible accounts (2,000)
Claim against shipper for goods lost in transit (November 2012) 3,000
Selling price of unsold goods sent by Vanoy on consignment
at 130% of cost (not included in Vanoy 's ending inventory) 26,000
Security deposit on lease of warehouse used for storing
some inventories 30,000
Total $117,000
At December 31, 2012, what was the correct total of Vanoy's current net receivables ?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947819

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