checks amounting to 30 000 were written to vendors and recorded on june 29 2006 resu 604471

The following is Gold Corp.’s June 30, 2006 trial balance:

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Cash overdraft			$	10,000
Accounts receivable, net	$	35,000
Inventory		58,000
Prepaid expenses		12,000
Land held for resale		100,000
Property, plant, and equipment, net		95,000
Accounts payable and accrued expenses				32,000
Common stock				25,000
Additional paid-in capital				150,000
Retained earnings				83,000
	$	300,000	$	300,000

Additional information

• Checks amounting to $30,000 were written to vendors and recorded on June 29, 2006, resulting in a cash overdraft of $10,000. The checks were mailed on July 9, 2006.
• Land held for resale was sold for cash on July 15, 2006.
• Gold issued its financial statements on July 31, 2006.

In its June 30, 2006 balance sheet, what amount should Gold report as current assets?

1. $225,000
2. $205,000
3. $195,000
4. $125,000