Reference no: EM132770450
A new accountant at Coronado Inc. is trying to identify which of the amounts shown below should be reported as the current asset "Cash and cash equivalents" in the year-end balance sheet, as of April 30, 2020.
1. $75 of currency and coin in a locked box used for incidental cash transactions.
2. A $12,800 U.S. Treasury bill, due May 31, 2020.
3. $210 of April-dated checks that Wyne has received from customers but not yet deposited.
4. An $93 check received from a customer in payment of its April account, but postdated to May 1.
5. $2,700 in the company's checking account.
6. $5,400 in its savings account.
7. $83 of prepaid postage in its postage meter.
8. A $38 IOU from the company receptionist.
Problem (a) What balance should Coronado report as its "Cash and cash equivalents" balance at April 30, 2020?
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