Question

Lansing Construction Company had the following receivables: Employee advances $ 500 Notes receivable (i.e., promissory notes from customers in exchange for services performed by Lansing Construction Co. 3,500 Income taxes refundable 2,000 Accounts receivable 13,000 Notes receivable (i.e., promissory notes obtained from creditors who purchased used equipment from Lansing Construction Co. 3,000 Interest receivable 200 Loans to company officers 4,400 Based on this information, what is the company's "Trade Receivables"?

Answer 1

The company's trade receivables consist of the sum of accounts receivable and notes receivable from customers, which in this case amounts to $16,500.

Step-by-step explanation:

The company's trade receivables can be calculated by summing up the accounts receivable and notes receivable from customers. In this case, the accounts receivable is $13,000 and the notes receivable from customers is $3,500, so the trade receivables would be $13,000 + $3,500 = $16,500.