Exercise 5 9 Part Level SubmissionThe current assets and current liabilities sections of the balance sheet of Novak Company appear as follows

liabilities sections of the balance sheet of Novak Company appear as follows

NOVAK COMPANY
BALANCE SHEET (PARTIAL)
DECEMBER 31, 2017
Cash$ 40,300Accounts payable$  61,140Accounts receivable$89,000Notes payable71,310    Less: Allowance for doubtful accounts7,20081,800$132,450Inventory181,520Prepaid expenses8,200  $311,820  
The following errors in the corporation's accounting have been discovered:


1.January 2018 cash disbursements entered as of December 2017 included payments of accounts payable in the amount of $39,200, on which a cash discount of 2% was taken.2.The inventory included $31,410 of merchandise that had been received at December 31 but for which no purchase invoices had been received or entered. Of this amount, $12,270 had been received on consignment; the remainder was purchased f.o.b. destination, terms 2/10, n/30.3.Sales for the first four days in January 2018 in the amount of $27,320 were entered in the sales journal as of December 31, 2017. Of these, $22,050 were sales on account and the remainder were cash sales.4.Cash, not including cash sales, collected in January 2018 and entered as of December 31, 2017, totaled $35,520. Of this amount, $23,520 was received on account after cash discounts of 2% had been deducted; the remainder represented the proceeds of a bank loan.


(a1) Your answer is partially correct. Try again.  
Calculate the following adjusted balances.


Cash
$
Accounts Receivable
$
Inventory
$
Accounts Payable
$
Notes Payable
$