Dorman Company had the following items to report on its balance sheet: $$\begin{array} { | l | r | }
\hline \text { Employee advances } & \$ \mathbf { 1 , 5 8 0 } \
\hline \text { Amounts owed by customers for the sale of services (due in 30 days) } & \mathbf { 3 , 0 5 0 } \
\hline \text { Refundable income taxes } & \mathbf { 1 , 1 2 0 } \
\hline \text { Interest receivable } & \mathbf { 9 5 0 } \
\hline \text { Accepted a form al instrument of credit for services (due in } 18 \text { months) } & \mathbf { 2 , 2 2 0 } \
\hline \text { A loan to company president } & \mathbf { 8 , 0 0 0 } \
\hline \text { Dishonored a note for principal and interest which will eventually be collected } & \mathbf { 1 , 3 8 0 } \
\hline
\end{array}$$ Based on this information, what amount should appear in the "Other Receivables" category?

Question

Dorman Company had the following items to report on its balance sheet: $$\begin{array} { | l | r | } 
\hline \text { Employee advances } & \$ \mathbf { 1 , 5 8 0 } \
\hline \text { Amounts owed by customers for the sale of services (due in 30 days) } & \mathbf { 3 , 0 5 0 } \
\hline \text { Refundable income taxes } & \mathbf { 1 , 1 2 0 } \
\hline \text { Interest receivable } & \mathbf { 9 5 0 } \
\hline \text { Accepted a form al instrument of credit for services (due in } 18 \text { months) } & \mathbf { 2 , 2 2 0 } \
\hline \text { A loan to company president } & \mathbf { 8 , 0 0 0 } \
\hline \text { Dishonored a note for principal and interest which will eventually be collected } & \mathbf { 1 , 3 8 0 } \
\hline
\end{array}$$ Based on this information, what amount should appear in the "Other Receivables" category?

Quizplus · Accepted Answer

The Answer of Dorman Company had the following items to report on its balance sheet: $$\begin{array} { | l | r | } 
\hline \text { Employee advances } & \$ \mathbf { 1 , 5 8 0 } \
\hline \text { Amounts owed by customers for the sale of services (due in 30 days) } & \mathbf { 3 , 0 5 0 } \
\hline \text { Refundable income taxes } & \mathbf { 1 , 1 2 0 } \
\hline \text { Interest receivable } & \mathbf { 9 5 0 } \
\hline \text { Accepted a form al instrument of credit for services (due in } 18 \text { months) } & \mathbf { 2 , 2 2 0 } \
\hline \text { A loan to company president } & \mathbf { 8 , 0 0 0 } \
\hline \text { Dishonored a note for principal and interest which will eventually be collected } & \mathbf { 1 , 3 8 0 } \
\hline
\end{array}$$ Based on this information, what amount should appear in the "Other Receivables" category?

Dorman Company Had the Following Items to Report on Its