Reference no: EM132742185
Question - Oust the Turtle Company had the following account balances on December 31, 2020:
Cash in Bank A - rank and file payroll account 200,000
Cash in bank B - savings account 123,456
Cash in bank C - checking account 2,500,555
Cash in bank D - savings account 2,000
Cash in bank E - checking account 676,777
Cash in bank F - managerial payroll account 711,711
Cash on bank C is set aside for payment of bonds payable acquired on October 14, 2014, due on December 21, 2021.
Cash in bank E is segregated for purchase of inventories.
Required - How much should be reported as cash on December 31, 2020?
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