1. The company has $10,000 in its checking account, $20,000 in its savings account, $1,000 in petty cash, $25,000 in one-year Treasury bills, and $15,000 in a money market fund. What amount should be reported as cash and cash equivalents on the balance sheet?

2. Petty cash payments are recorded in the accounting system when:

3. What is the purpose of the closing process?

The company has $10,000 in its checking account, $20,000 in its savings account, $1,000 in petty cash, $25,000 in one-year Treasury bills, and $15,000 in a money market fund. What amount should be reported as cash and cash equivalents on the balance sheet? O $30,000 O $31,000 $46,000 O $71,000