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Question: Cash Reporting
Richter Industries has the following items:
Currency $27,500
Customer checks that have not been deposited 850
U.S. government bonds that originally maturing in 3 months 11,000
U.S. government bonds that originally maturing in 12 months 14,000
Cash in saving and checking accounts 50,000
Certificates of deposits that originally maturing in 18 months 47,000
Required: How much should Richter report as cash and equivalents on its balance sheet?
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