Carpeting Company provides the following partial list of assets: Cash $5,000; A/R: $30,000; Inventory: $25,000;...
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Accounting
Carpeting Company provides the following partial list of assets: Cash $5,000; A/R: $30,000; Inventory: $25,000; Prepaid Expenses: $1,000; Patents: $7,000. What is the total amount of current assets that Chamberlain Company would report on its balance sheet?
a. $61,000
b. $68,000
c. $60,000
d. $36,000
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