Please answer both 1 and 2. Please take your time!

The controlier of the Red Wing Corporation is in the process of preparing the company's 2024 financial statements She is trying to determine the correct bolance of cash and cash equivalents to be reported os a curtent asset in the balance sheet. The following items are being considered: a. Balances in the company's accounts at the First National Bank, checking $13,600, savings $22,200 b. Undeposited customer checks of $5,300 c. Currency and coins on hand of $590. d Savings account at the East Bay 8ank with a balance of $410,000 This account is being used to accumulate cash for future plant expansion (in 2026). e. $22,000 in a checking account at the East Bay Bank. The balance in the occount represents a 20% compensating balance for a $110,000 loan with the bank. Red Wing may not withdraw the funds until the loan is due in 2027 f U.S. Treasury bills, 2 -month maturty bilis totoling $16,000, and 7 -month bilis totaling $2,1000 Required: 1. Determine the correct balance of cash and cash equlvalents to be reported in the current asset section of the 2024 balance sheet 2. For each of the riems not included in your answer to requirement 1 , select the correct classification of the item. Complete this question by entering your answers in the tabs below. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2024 balance sheet. The controller of the Red Wing Corporation is in the process of preparing the companys 2024 financlal statements. She is trying to determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance sheet. The following items are being considered: a Balances in the company's accounts at the First National Banik, checking $13,600, savings $22,200. b. Undeposited customer checks of $5,300. c. Currency and coins on hand of $590 d Savings occount at the East Bay Bank with a balance of $410,000. This account is being used to accumulate cash for future plant expansion (in 2026) e. $22,000 in a checking account of the East Bay Bank. The balance in the account represents a 20% compensating balance for a $110,000 loan with the bank. Red Wing may not withdraw the funds until the loan is due in 2027. t. U.S. Treasury bitis, 2 -month maturity bilis totaling $16,000, and 7 -month bilis totaling $21,000. Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current osset section of the 2024 balance sheet 2. For each of the items not included in your answer to requirement 1, select the correct classincation of the item. Complete this question by entering your answers in the tabs below. For each of the items not included in your answer to requirement 1, select the correct dassfication of the item