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A new accountant at Marin Inc. is trying to identify which of the amounts shown below should be reported as the current asset Cash and
A new accountant at Marin Inc. is trying to identify which of the amounts shown below should be reported as the current asset Cash and cash equivalents in the year-end balance sheet, as of April 30, 2022.
1. | $54 of currency and coin in a locked box used for incidental cash transactions. | |
2. | A $10,300 U.S. Treasury bill, due May 31, 2022. | |
3. | $260 of checks that Marin has received from customers but not yet deposited. | |
4. | $2,880 in the companys checking account. | |
5. | $5,730 in its savings account. | |
6. | $54 of prepaid postage in its postage meter. | |
7. | A $24 IOU from the company receptionist. |
(a) What amount should Marin report for Cash and cash equivalents at April 30, 2022?
Cash and cash equivalents balance at April 30, 2022 | $enter the cash and cash equivalents balance at April 30, 2022 in dollars |
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