The controller of the Red Wing Corporation is in the process of preparing the company$$s $2024$ financial 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:

Balances in the company$$s accounts at the First National Bank; checking $$15,100,$ savings $$23,700.$

Undeposited customer checks of $$6,800.$

Currency and coins on hand of $$740.$

Savings account at the East Bay Bank with a balance of $$560,000.$ This account is being used to accumulate cash for future plant expansion $($in $2026).$

$$26,000$ in a checking account at the East Bay Bank. The balance in the account represents a $10\%$ compensating balance for a $$260,000$ loan with the bank. Red Wing may not withdraw the funds until the loan is due in $2027.$

U$.$S$.$ Treasury bills; $2-$month maturity bills totaling $$31,000,$ and $7-$month bills totaling $$36,000.$

Required:

Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the $2024$ balance sheet.

For each of the items not included in your answer to requirement $1,$ select the correct classification of the item.