The office manager for Stony Company had accumulated the following information at the end of a recent year:
...................................................Item ............................................. Amount
Accounts receivable.............................................................................. $22,470
Change for cash registers (currency and coin) .................................................. 4,800
Amount on deposit in checking account (bank balance) ....................................... 7,382
Amount on deposit in savings account (bank balance) ....................................... 30,000
Balance in petty cash.................................................................................. 500
Checks received from customers, but not yet deposited in bank ................................590
Checks sent by Stony to suppliers, but not yet presented at bank for payment............... 560
Deposits in transit ......................................................................................920
IOU from Richard Sandy, company president ................................................ 10,000
Notes receivable.................................................................................... 13,400
NSF check written by Liam Company ...............................................................430
Prepaid postage .........................................................................................125
Required:
Calculate the total cash amount Stony will report on its balance sheet.