Problem 5-5 On December 31, 2017, the cash account of Terry Company has a debit balance of $3,500,000. An analysis of the cash account shows the following details: Undeposited collections 60,000 Cash in bank-RPB checking account 500,000 Cash in bank- MB (overdraft) (50,000) Undeposited NSF check received from customer, dated December 31, 2016 15,000 Undeposited check received from customer, dated January 15, 2017 25,000 Cash in bank-RPB (fund for payroll) 150,000 Cash in bank-RPB (savings deposit) 100,000 Cash in bank-RPB (money market instrument, 90 days) 2,000,000 Cash in foreign bank (restricted) 100,000 IOU's from officers Sinking fund cash 30,000 Listed stock held as temporary investment 450,000 120,000 A 3,500.000 Required: a. Compute the cash and cash equivalent that should be shown in the statement of financial position at December 31, 2017? b. Prepare one adjustment to correct the cash account