P7-1 "Cash and Other Items"

The following information has been extracted from the accounting records of the Atwood Corporation:

1.Cash on hand (undeposited sales receipts) $1,020

2.Certificates of deposit 25,000

3.Customer's note receivable1,000

4.Reconciled balance in University National Bank

checking account (350)

5.Reconciled balance in Second National Bank

checking account9,350

6.Balance in City Federal savings account8,560

7.Customer's postdated check1,350

8.Employees travel advances1,600

9.Cash in bond sinking fund1,200

10.Bond sinking fund investment8,090

11.Postage Stamps430

Required:

Determine the balance in Atwood's Cash account and discuss the balance sheet treatment of any items not included as cash.