The controller for Clint Indigo Co. is attempting to determine the amount of cash to be reported on its December 31, 2020, balance sheet. The following information is provided. 1. Commercial savings account of $641,000 and a commercial checking account balance of $823,200 are held at First National Bank of Yojimbo. 2. Money market fund account held at Volonte Co. (a mutual fund organization) permits Indigo to write checks on this balance, $5,249,900. 3. Travel advances of $188,700 for executive travel for the first quarter of next year (employee to reimburse through salary reduction) 4. A separate cash fund in the amount of $1,492,000 is restricted for the retirement of long-term debt. 5. Petty cash fund of $1,190. 6. An I.O.U. from Marianne Koch, a company customer, in the amount of $167,000. 7. A bank overdraft of $128,100 has occurred at one of the banks the company uses to deposit its cash receipts. At the present time, the company has no deposits at this bank. 8. The company has two certificates of deposit, each totaling $575,100. These CDs have a maturity of 120 days. 9. Indigo has received a check that is dated January 12, 2021, in the amount of $119,350. 10. Indigo has agreed to maintain a cash balance of $501,600 at all times at First National Bank of Yojimbo to ensure future credit availability. 11. Indigo has purchased $1,913,700 of commercial paper of Sergio Leone Co. which is due in 60 days. 12. Currency and coin on hand amounted to $7,599. (a) Compute the amount of cash and cash equivalents to be reported on Indigo Co.'s balance sheet at December 31, 2020. The amount of Cash and Cash Equivalents reported on December 31, 2020 $ Sage Equipment Co. closes its books regularly on December 31, but at the end of 2020 it held its cash book open so that a more favorable balance sheet could be prepared for credit purposes. Cash receipts and disbursements for the first 10 days of January were recorded as December transactions. The information is given below. 1. January cash receipts recorded in the December cash book totaled $55,400, of which $34,700 represents cash sales, and $20,700 represents collections on account for which cash discounts of $336 were given. 2. January cash disbursements recorded in the December check register liquidated accounts payable of $20,763 on which discounts of $235 were taken. 3. The ledger has not been closed for 2020. 4. The amount shown as inventory was determined by physical count on December 31, 2020. The company uses the periodic method of inventory. (a) Prepare any entries you consider necessary to correct Sage's accounts at December 31. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit Dec. 1. 31 2. Dec. 31