The following are held by Smite Co.:
Cash in checking account $20,000
Cash in bond sinking f...
Business, 02.12.2021 06:30, ellarose0731
The following are held by Smite Co.:
Cash in checking account $20,000
Cash in bond sinking fund account 30,000
Postdated check from customer dated one month from balance sheet date 250
Petty cash 200
Commercial paper (matures in two months) 7,000
Certificate of deposit (matures in six months) 5,000
Required:
What amount should be reported as cash and cash equivalents on Smite's balance sheet?
Answers: 2
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