A new accountant at Nicholsen Inc. is trying to identify which of the amounts shown on page 368 should be reported as the current asset “Cash and cash equivalents” in the year-end balance sheet, as of April 30, 2010.
1. $60 of currency and coin in a locked box used for incidental cash transactions.
2. A $10,000 U.S. Treasury bill, due May 31, 2010.
3. $300 of April-dated checks that Nicholson has received from customers but not yet deposited.
4. An $85 check received from a customer in payment of its April account, but postdated to May 1.
5. $2,500 in the company’s checking account.
6. $4,500 in its savings account.
7. $75 of prepaid postage in its postage meter.
8. A $25 IOU from the company receptionist.

Instructions
(a) What balance should Nicholsen report as its “Cash and cash equivalents” balance at April 30, 2010?
(b) In what account(s) and in what financial statement(s) should the items not included in “Cash and cash equivalents” be reported?