The following accounts were included on Retail Consultants adjusted trial balance at December 31 2016: $\begin{array}{lr}
\text { Accounts payable } & 9,800 \
\text { Accounts receivable } & 13,000 \
\text { Cash } & 5,500 \
\text { Owner's Capital } & 40,000 \
\text { Owner's Drawings } & 10,000 \
\text { Interest expense } & 3,000\
\text { Note payable, due } 8 / 31 / 19 & 65,000 \
\text { Supplies } & 1,500 \
\text { Service revenue } & 37,000 \
\text { Equipment } & 5,000
\end{array}$ (a) What are total current assets?
(b) What are total current liabilities?

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The Answer of The following accounts were included on Retail Consultants adjusted trial balance at December 31 2016: $\begin{array}{lr}
\text { Accounts payable } & 9,800 \
\text { Accounts receivable } & 13,000 \
\text { Cash } & 5,500 \
\text { Owner's Capital } & 40,000 \
\text { Owner's Drawings } & 10,000 \
\text { Interest expense } & 3,000\
\text { Note payable, due } 8 / 31 / 19 & 65,000 \
\text { Supplies } & 1,500 \
\text { Service revenue } & 37,000 \
\text { Equipment } & 5,000
\end{array}$ (a) What are total current assets?
(b) What are total current liabilities?

The Following Accounts Were Included on Retail Consultants Adjusted Trial