nt Brief Exercise 8-1 Included in the December 31 trial balance of Swifty Compan

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nt Brief Exercise 8-1 Included in the December 31 trial balance of Swifty Company are the following assets. s 389,500 Work in process $410,000 Cash Equipment (net) 2,255,000 Accounts Receivables (net) 820,000 Prepaid insurance 84,050 Patents Raw materials 225,500 348,500 686,750 Finished goods Prepare the current assets section of the December 31 balance sheet. (List Current Assets ine SWIFTY COMPANY Balance Sheet (Partial) asy Policy 2099-2012 John Wiley & Sons Inc. All Rights Reserved. A Division of John Wiley & Sons Ins

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SWIFTY Company

Balance sheet

Amount ($) Amount ($) Current Assets: Cash 389,500 Accounts Receivable 820,000 Inventories: Raw materials 686,750 Work in process 410,000 Finished goods 348,500 1,445,250 Prepaid insurance 84,050 Total Current assets 2,738,800

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