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:

a$.$ Balances in the company's accounts at the First National Bank; checking $$15,000,$ savings $$23,600.$

b$.$ Undeposited customer checks of $$6,700.$

c$.$ Currency and coins on hand of $$730.$

d$.$ Savings account at the East Bay Bank with a balance of $$550,000.$ This account is being used to accumulate cash for future plant expansion $($in $2026).$

e$.$ $$50,000$ in a checking account at the East Bay Bank. The balance in the account represents a $20\%$ compensating balance for a $$250,000$ 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 $$30,000,$ and $7-$month bills totaling $$35,000.$

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.

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