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Exercise 7-2 (Algo) Cash and cash equivalents [LO7-2] Delta Automotive Corporation has the following assets listed in its 12/31/2021 trial balance: Cash in bank-checking account
Exercise 7-2 (Algo) Cash and cash equivalents [LO7-2] Delta Automotive Corporation has the following assets listed in its 12/31/2021 trial balance: Cash in bank-checking account U.S. Treasury bills (mature in 60 days)* Cash on hand (currency and coins) U.S. Treasury bills (mature in six months)* Undeposited customer checks $29,500 7,000 2,050 17,000 2,540 *Purchased on 11/30/21 Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2021 balance sheet. Cash and cash equivalents includes: Total
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