E.1 What is the total cash to be reported on its December 31 balance sheet. The following information is provided: INSTRUCTIONS (a) FOR EACH OF THE FOLLOWING ITEMS, ENTER THE AMOUNT IN THE CORRECT COLUMN. IF NOT CASH, INDICATE THE CORRECTION CLASSFICATION. (b) Indicate the proper reporting for items that are not included in cash on the December 31, balance sheet. DESCRIPTION: 1. Commercial savings account of $500,000 and a commercial checking account balance of $800,000 both held at National Bank. 2. A money market fund account of $5,000,000, held in a mutual fund, with checks writing privledges 3. Travel advances of $250,000 for executive travel for the first quarter of next year (employee to reimburse through salary reduction). 4 A cash fund in the amount of $2,000,000 is restricted for the retirement of long-term debt held at Citibank. 5. Petty cash fund of $500. 6 An I.O.U. from a customer, in the amount of $150,000 7. A bank overdraft of $125,000 has occurred at one of the banks the company uses to deposit its cash receipts. At the present time, the company has no other deposits at this bank. 8. The company has two certificates of deposit, each totaling $500,000. These CDs have a maturity of 180 days. 9. A customer check post dated to January 12 , in the amount of $50,000. 10. A cash balance of $1,000,000 matained at National Bank to ensure future credit availability. 11. An investment in commercial paper in the amount of $1,000,000, due in 60 days. 12. Currency and coin on hand amounted to 10,200 . TOTALS (use the sum formula to compute this)