EX 9-25 Receivables on the balance sheet
List any errors you can find in the following partial balance sheet:
| Tulips Company | ||
| Balance Sheet | ||
| December 31, 2012 | ||
| Assets | ||
| Current assets: | ||
| Cash | $138,000 | |
| Notes receivable | $400,000 | |
| Less interest receivable | 20,000 | 380,000 |
| Accounts receivable | $795,000 | |
| Plus allowance for doubtful accounts | 14,500 | 809,500 |
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