Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021:

 Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021:

 

Investments consist of treasury bills that were purchased in November, 2021, and mature in January, 2022. The balance of prepaid insurance represents coverage over the next two years. What amount should be included in the current assets section of Janson’s December 31, 2021, balance sheet? 

Multiple Choice

$139,700.


$88,600.



$91,800.


$57,900.

Answer

$88,600.

Explanation

$12,700 + $42,000 + $30,700 + $3,200 (1/2 of prepaid insurance) = $88,600.

Thanks