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 iterns are being considered: a. Balances in the company's accounts at the First National Bank, checking $14,300, savings $22,900 b. Undeposited customer checks of $6,000. c. Currency and coins on hand of $660 d. Savings account at the East Bay Bank with a balance of $480,000. This account is being used to accumulate cash for future plar expansion (in 2026). e. $27,000 in a checking account at the East Bay Bank. The balance in the account represents a 15% compensating balance for a $180,000 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 maturity bills totaling $23,000, and 7 -month bills totaling $28,000. Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2024 balance sheet. 2. For each of the items 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 company's 2024 financial statem determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance items are being considered: a. Balances in the company's accounts at the First National Bank; checking $14,300, savings $22,900. b. Undeposited customer checks of $6,000. c. Currency and coins on hand of $660. d. Savings account at the East Bay Bank with a balance of $480,000. This account is being used to accumu expansion (in 2026). e. \$27,000 in a checking account at the East Bay Bank. The balance in the account represents a 15% comp $180,000 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 maturity bills totaling $23,000, and 7 -month bills totaling $28,000. Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section o sheet. 2. For each of the items not included in your answer to requirement 1 , select the correct classification of the 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 202 sheet. The controller of the Red Wing Corporation is in the process of preparing the company's 2024 financial determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance sheet. The fo items are being considered: a. Balances in the company's accounts at the First National Bank; checking $14,300, savings $22,900. b. Undeposited customer checks of $6,000. c. Currency and coins on hand of $660. d. Savings account at the East Bay Bank with a balance of $480,000. This account is being used to accumulate cash fo expansion (in 2026) e. $27,000 in a checking account at the East Bay Bank. The balance in the account represents a 15% compensating ba $180,000 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 maturity bills totaling $23,000, and 7 -month bills totaling $28,000. Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2024 sheet. 2. For each of the items 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. For each of the items not included in your answer to requirement 1, select the correct classification of the item. The controller of the Red Wing Corporation is in the process of preparing the company's 2024 fir determine the correct balance of cash and cash equivalents to be reported as a current asset in items are being considered: a. Balances in the company's accounts at the First National Bank, checking $14,300, savings $ b. Undeposited customer checks of $6,000. c. Currency and coins on hand of $660. d. Savings account at the East Bay Bank with a balance of $480,000. This account is being us expansion (in 2026). e. $27,000 in a checking account at the East Bay Bank. The balance in the account represents $180,000 loan with the bank. Red Wing may not withdraw the funds until the loan is due in 2 f. U.S. Treasury bills; 2 -month maturity bills totaling $23,000, and 7 -month bills totaling $28,00 Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current as sheet. 2. For each of the items not included in your answer to requirement 1, select the correct classif 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 classification B Bank with a balance of $480,000. This account is being used to ac t at the East Bay Bank. The balance in the account represents a 15% Red Wing may not withdraw the funds until the loan is due in 2027. aturity bills totaling $23,000, and 7-month bills totaling $28,000. e of cash and cash equivalents to be reported in the current asset secti uded in your answer to requirement 1 , select the correct classification o ering your answers in the tabs below. d in your answer to requirement 1 , select the correct classification of the ite