Solution-How much should be reported as cash in the

How much should be reported as cash in the statement

Reference no: EM132707573

Problem 1: Brighton Inc. reported the following amounts: cash in bank-chequing account of $37,000, cash on hand of $1,000, postdated cheques received totalling $3,500, and guaranteed investment certificates totalling $248,000. How much should be reported as cash in the statement of financial position?

Group of answer choices

Option 1: 37,000

Option 2: 286,000

Option 3: 45,000

Option 4: 38,000

Reference no: EM132707573

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How much should be reported as cash in the statement

Reference no: EM132707573

Reference no: EM132707573

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