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The cash account includes $$22,000$ set aside in a legally restricted fund to pay bonds payable that mature in $2024,$ a $$15,000$ cash surrender value of a life insurance policy on the company's CEO, and $$2,000$ in petty cash.

The accounts receivable balance consists of the following:

a$.$ Amounts owed by customers with debit balances

b$.$ Customer accounts with credit balances.

c$.$ Allowance for uncollectible accounts $-$ trade customers

d$.$ Non$-$trade note receivable due in three equal payments on June $25$ over the next $3$ years

e$.$ Interest receivable on note due in nine months

Total

$$227,600$

$10,500$

$(9,400)$

$64,500$

$7,800$

$$280,000$

The prepaid expenses includes $$18,000$ that will be consumed during $2017$ and $$14,000$ that will be consumed during $2018.$

The investments account is classified as Available for Sale Securities and includes an investment of $$25,000$ in bonds that mature July $1,2017.$ Of the remaining investments balance, management intends to hold for at least the next three years. All investments in the portfolio have already been marked$-$tomarket and are reported at Fair Value.

The land account includes land which cost $$75,000$ that the company purchased for speculative purposes and is currently held for sale. The remaining $$100,000$ is the cost of land on which the company's office building resides. The equipment account includes idle machinery with a book value of $$45,000.$

The unearned revenue represents customer prepayments for magazine subscriptions. Subscriptions are for five$-$years and will be earned evenly over each of the years beginning January $1,2017.$

The notes payable account consists of the following:

a$.$ a $$50,000$ note due in six months.

b$.$ a $$100,000$ bond due in eight years.

c$.$ a $$150,000$ note due in six annual installments of $$25,000$ each, with the next installment due Nov. $1,2017.$

$*$Interest on all notes has been properly accrued and is included in accrued expenses.

Required: After all corrections have been made, determine the correct amount of Current Assets:$Q$

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