Practice Q 5

A new accountant at Sheridan Inc. is trying to identify which of the amounts shown below should be reported as the current asset Cash and cash equivalents in the year-end balance sheet, as of April 30, 2020.

1.		$62 of currency and coin in a locked box used for incidental cash transactions.
2.		A $12,100 U.S. Treasury bill, due May 31, 2020.
3.		$220 of April-dated checks that Wyne has received from customers but not yet deposited.
4.		An $89 check received from a customer in payment of its April account, but postdated to May 1.
5.		$2,900 in the companys checking account.
6.		$5,200 in its savings account.
7.		$88 of prepaid postage in its postage meter.
8.		A $44 IOU from the company receptionist.

(a) What balance should Sheridan report as its Cash and cash equivalents balance at April 30, 2020?

Cash and cash equivalents balance

$Enter the cash and cash equivalents balance in dollars