P7-1 Cash and Other Items

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

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

Certificates of deposit 25,000

Customers note receivable 1,000

Reconciled balance in University National Bank

checking account (350)

Reconciled balance in Second National Bank

checking account 9,350

Balance in City Federal savings account 8,560

Customers postdated check 1,350

Employees travel advances 1,600

Cash in bond sinking fund 1,200

Bond sinking fund investment 8,090

Postage Stamps 430

Required:

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