Kraft Enterprises owns the following assets at December 31, 2020. Cash in banksavings account...............................68,000 Checking account balance........................................17,000
Question:
Kraft Enterprises owns the following assets at December 31, 2020.
Cash in bank—savings account...............................68,000
Checking account balance........................................17,000
Cash on hand...............................................................9,300
Postdated checks...........................................................750
Cash refund due from IRS........................................31,400
Certificates of deposit (180-day)..............................90,000
What amount should be reported as cash?
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Related Book For 
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
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