1. Business
2. Accounting
3. Financial Accounting & Bookkeeping
4. The Financial Statements
5. 297641

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Please help with the following problem on financial statements.

Patriot Company shows a balance of $241,140 in the Accounts Receivable account on December 31, 2010. The balance consists of the following.

Installment accounts due in 2011 $23,000

Installment accounts due after 2011 34,000

Overpayments to creditors 2,640

Due from regular customers, of which $40,000 represents
accounts pledged as security from a bank loan 89,000

Advances to employees 1,500

Advance to subsidiary company
(made in 2008) 91,000

Instructions

Illustrate how the information above should be shown on the balance sheet of Patriot Company on December 31, 2010.