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Question - Reporting Cash Jenkins Company has the following items at year-end.
Currency and coin in safe.
$5,500
Funds in savings account
(requires $2,000 compensating balance)
27,250
Funds in checking account
6,950
Traveler's checks
700
Postdated check
1,450
Not-sufficient-funds check
1,050
Money market fund
35,400
Required - Identify the amount of the above items that should be reported as cash and cash equivalents on Jenkins Company's balance sheet.
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