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Novak Company shows a balance of $209,770 in the Accounts Receivable account on December 31,...

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Accounting

Novak Company shows a balance of $209,770 in the Accounts Receivable account on December 31, 2017. The balance consists of the following.

Installment accounts due in 2018 $27,000
Installment accounts due after 2018 41,700
Overpayments to vendors 2,900
Due from regular customers, of which $39,620 represents accounts pledged as security for a bank loan 85,300
Advances to employees 2,190
Advance to subsidiary company (due in 2018) 90,300

Illustrate how the information above should be shown on the balance sheet of Novak Company on December 31, 2017. Assume that installment accounts collectible due after December 31, 2018 (Customers) are collectible within the operating cycle of the business.imageplease answer following this format. imageimage

NOVAK COMPANY Balance Sheet (Partial)

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