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Dorman Company Had the Following Items to Report on Its

Question 145

Multiple Choice

Dorman Company had the following items to report on its balance sheet:  Employee advances $1,580 Amounts owed by customers for the sale of services (due in 30 days)  3,050 Refundable income taxes 1,120 Interest receivable 950 Accepted a formal instrument of credit for services (due in 18 months)  2,220 A loan to company president 10,000\begin{array}{lr}\text { Employee advances } & \$ 1,580 \\\text { Amounts owed by customers for the sale of services (due in } 30 \text { days) } & 3,050 \\\text { Refundable income taxes } & 1,120 \\\text { Interest receivable } & 950 \\\text { Accepted a formal instrument of credit for services (due in } 18 \text { months) } & 2,220 \\\text { A loan to company president } & 10,000\end{array} Based on this information what amount should appear in the "Other Receivables" category?


A) $20300
B) $13650
C) $15030
D) $17250

Correct Answer:

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