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Calculate what amount of cash will be reported

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Question - The following is information about Full Moon Auto Repairs cash and related accounts at December 31, 2017

1. Postdated cheques from customers total $5,500. The cheques are dated January 31, 2018.

2. The petty cash box contains $500 cash.

3. The company has a savings account with a balance of $5,250 after all adjustments are recorded.

4. The company has guaranteed investment certificates totalling $10,000 due in 30 days.

5. The company maintains a cash float of $1,000 for use in the cash registers and which is stored in a locked safe overnight. On December 31, the cash custodian lent the senior manager $100 from the cash float, leaving an "IOU" note in the safe.

6. The chequing account is overdrawn, showing a negative balance of $12,400 after all adjustments.

Required - Calculate what amount of cash (excluding cash equivalents) will be reported on Full Moon's December 31, 2017 balance sheet. Write out the amounts below then calculate.

Reference no: EM133074661

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