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The Balances of Select Accounts of Sandra,Inc The Insurance Has Been Prepaid Until June 30,2017

Question 36

Multiple Choice

The balances of select accounts of Sandra,Inc.as of December 31,2016 are given below:  Debit  Credit  Building $140,000 Cash 8,000 Office Supplies 1,100 Furniture 5,000 Prepaid Insurance 450 Accumulated Depreciation-Furniture $3,000 Land 32,000 Accumulated Depreciation-Building 4,700 Accounts Receivable 2,300\begin{array} { | l | r | r | } \hline & { \text { Debit } } & \text { Credit } \\\hline \text { Building } & \$ 140,000 & \\\hline \text { Cash } & 8,000 & \\\hline \text { Office Supplies } & 1,100 & \\\hline \text { Furniture } & 5,000 & \\\hline \text { Prepaid Insurance } & 450 & \\\hline \text { Accumulated Depreciation-Furniture } & & \$ 3,000 \\\hline \text { Land } & 32,000 & \\\hline \text { Accumulated Depreciation-Building } & &4,700 \\\hline \text { Accounts Receivable } & 2,300 & \\\hline\end{array} The insurance has been prepaid until June 30,2017.Determine the amount of total current assets reported on the balance sheet.


A) $15,300
B) $9,100
C) $11,850
D) $9,550

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