Ch 7 HW 6 1 The controller of the Red Wing Corporation is in the process of preparing the company's 2018 financial statements. She is try determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance sheet. The follow are being considered: 3 3.75 points a. Balances in the company's accounts at the First National Bank, checking $14,000, savings $22.600 b. Undeposited customer checks of $5,700. C. Currency and coins on hand of $630. d Sevings account at the East Bay Bank with a balance of $450000. This account is being used to accumulate cash for future expansion (in 2020) e, $30 000 in a checking account at the East Boy Bank. The balance in the account represents a 20% compensating balance 150,000 loan with the bank. Red Wing may not withdrew the funds until the loan id due in 2021 eBook Hint Print ReferencesU.S. Treasury bills: 2-month maturity bills totaling $20,000, and 7-month bills totaling $25.000 Required: 1. Determine the correct balance of cash and cash equlvalents to be reported in the current asset section of the 2018 balance s ash and cash equivalents includes Balance in checking account a. Balance in savings account b. Undeposited customer checks | Currency and coins on hand C. d. Balance in savings account Balance in checking account e