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What balance should leftwich report as its cash

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Question - A new accountant at Leftwich 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, 2014.

1. $89 of currency and coin in a locked box used for incidental cash transactions.

2. A $17,740 U.S. Treasury bill, due May 31, 2014.

3. $287 of April-dated checks that Leftwich has received from customers but not yet deposited.

4. An $78 check received from a customer in payment of its April account, but postdated to May 1.

5. $5,200 in the company's checking account.

6. $5,810 in its savings account.

7. $71 of prepaid postage in its postage meter.

8. A $23 IOU from the company receptionist.

What balance should Leftwich report as its "Cash and cash equivalents" balance at April 30, 2014?

Reference no: EM132064588

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