The controller for Sandhill Co$.$ is trying to determine the amount of cash and cash equivalents to report on the December $31,2023$

statement of financial position. Sandhill Co$.$ follows IFRS. The following information is provided:

$1.$

A commercial savings account with $$620,000$ and a commercial chequing account balance of $$960,000$ are held at First

National Bank. There is also a bank overdraft of $$41,000$ in a chequing account at the Royal Scotia Bank. No other accounts

are held at the Royal Scotia Bank.

$2.$

Sandhill has agreed to maintain a cash balance of $$96,000$ at all times in its chequing account at First National Bank to

ensure that credit is available in the future.

$3.$

Sandhill has a $$5-$million investment in a Commercial Bank of Montreal money$-$market mutual fund. This fund has chequing

account privileges.

$4.$ There are travel advances of $$16,000$ for executive travel for the first quarter of next year. $($Employees will complete

expense reports after they travel.$)$

$5.$

A separate cash fund in the amount of $$2\mathrm{.}0$ million is restricted for the retirement of long$-$term debt.

$6.$ There is a petty cash fund of $$3,200.$

$7.$ A $$1,500$ IOU from Marianne Koch, a company officer, will be withheld from her salary in January $2024.$

$8.$ There are $20$ cash floats for retail operation cash registers: $8$ at $$480$ and $12$ at $$580.$

$9.$ The company has two certificates of deposit, each for $$540,000.$ These certificates of deposit each had a maturity of $120$

days when they were acquired. One was purchased on October $15$ and the other on December $27.$

$10.$ Sandhill has received a cheque dated January $12,2024,$ in the amount of $$30,000$ from a customer owing funds at December

$31.$ It has also received a cheque dated January $8,2024,$ in the amount of $$11,000$ from a customer as an advance on an