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A new accountant at Sheridan Company is trying to identify which of the following amounts should be reported as the current asset Cash and Cash
A new accountant at Sheridan Company is trying to identify which of the following amounts should be reported as the current asset Cash and Cash Equivalents in the year-end balance sheet, as at June 30, 2024: 1. Currency and coins totalling $73 in a locked box used for petty cash transactions. 2. A 60-day, $11,400 guaranteed investment certificate, due July 31, 2024. 3. June-dated cheques worth $259 that Sheridan has received from customers but not yet deposited. 4. A$104 cheque received from a customer in payment of her June account, but postdated to July 1. 5. A balance of $2,430 in the Royal Bank chequing account. 6. A balance of $4,250 in the Royal Bank savings account. 7. Prepaid postage of $52 in the postage meter. 8. A $10210IO from the company receptionist. 9. Cash register floats of $306. 10. Over-the-counter cash receipts for June 30 consisting of $500 of currency and coins, $160 of cheques from customers, $510 of debit card slips, and $710 of bank credit card slips. These amounts were processed by the bank and posted to the bank account on July 1 . Ignore any related debit or credit card expenses. (a) What amount should Sheridan report as its cash and cash equivalents balance at June 30, 2024? Cash and cash equivalents balance $
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