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private college statement of financial position and the following additional informa 615209

Private college, statement of financial position. and the following additional information, prepare a statement of financial position for Park Private College.

Debit

Credit

Cash

275,000

Accounts Receivable (net)

625,000

Contributions Receivable

85,000

Inventory of Supplies

55,000

Student Loans Receivable

300,000

Land, Buildings, and Equipment (net)

1,000,000

Long-Term Investments

3,025,000

Accounts Payable

220,000

Amounts Held on Behalf of Others

250,000

Long-Term Debt

560,000

US Government Grants Refundable

100,000

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