Al's Toys Cash balance on December 31, 2017, was $10,000. In addition, Al had the following items on its premises on December 31:

Check payable to Al's Toys, dated January 5, 2018, included in December 31 book balance
$ 250
Postage stamps on hand are not included in December 31 book balance
120
Cashier's check payable to Al's Toys, dated December 26, 2017, not included in December 31 Cash balance
1,500
The proper amount to be shown as Cash on AI's balance sheet on December 31, 2017, is?

Answer rating: 100% (QA)

The peceber amount to be shown as Cash on Als balanc... View the full answer