On 30 June, Sophisticated Coffee had the following on its premises:

1.    18 blank cheque forms

2.    a cheque for $275 received from a customer on 28 June but dated 1 July

3.    cheques dated 28–30 June for the total amount of $2384 received from customers on 30 June.

4.    postage stamps to the value of $12.10

5.    a $600 IOU from an employee representing a short-term loan

6.    currency and coin, $872

Required

A. What total dollar amount should be included in ‘cash’ at 30 June?

B. Explain how any items not included in ‘cash’ should be reported in a balance sheet prepared on 30 June.