Emmet Co'S Records Reveal the Following Data at Year-End Required:
Compute the Correct Amount of Cash and Cash Equivalents

question 25

Essay

Emmet Co.'s records reveal the following data at year-end:
$\begin{array}{ll}\text { Commercial paper maturing in four months } & \$ 1,200 \\\text { Uncashed tax refund check } & 550 \\\text { Petty cash } & 100 \\\text { Certificates of deposit } & 1,000 \\\text { Balance in Union Savings and Loan savings account } & 2,500 \\\text { Postage } & 50 \\\text { Balance in United Bank checking account } & (250) \\\text { Treasury notes maturing in six months } & 2,200 \\\text { Cash on hand } & 500 \\\text { Postclated customer check } & 125 \\\text { Employee travel advance } & 75 \\\text { Treasury bill maturing in one month } & 2,500\end{array}$ Required:
Compute the correct amount of cash and cash equivalents that will appear as a current asset on Emmet Co.'s balance sheet.