Cash and Other Items The following information has been extracted from the accounting records of the Atwood Corporation:
|
1. Cash on hand (undeposited sales receipts) |
$1,020 |
|
2. Certificates of deposit |
25,000 |
|
3. Customer’s note receivable |
1,000 |
|
4. Reconciled balance in University National Bank checking account |
350 |
|
5. Reconciled balance in Second National Bank checking account |
9,350 |
|
6. Balance in City Federal savings account |
8,560 |
|
7. Customer’s postdated check |
1,350 |
|
8. Employee travel advances |
1,600 |
|
9. Cash in bond sinking fund |
1,200 |
|
10. Bond sinking fund investments |
8,090 |
|
11. Postage stamps |
430 |
Required
Determine the balance in Atwood’s Cash account, and discuss the balance sheet treatment of any items not included as cash.