In bidding for some surplus property offered at auction by a government agency, the Argus Company on December 28 drew a check for $3,000 and mailed it with the bid. The government agency on January 3 rejected the bid and returned the check. Should the $3,000 be included as cash in the December 31 balance sheet, which was prepared by the Argus Company on January 5 after the check had been returned? Explain. LO6