A new accountant at Shamrock, Inc. is trying to identify whichof the amounts shown below should be reported as the current asset“Cash and cash equivalents” in the year-end balance sheet, as ofApril 30, 2019.
| 1. | | $60 of currency and coin in a locked box used for incidentalcash transactions. |
| 2. | | A $10,600 U.S. Treasury bill, due May 31, 2019. |
| 3. | | $275 of April-dated checks that Shamrock has received fromcustomers but not yet deposited. |
| 4. | | An $86 check received from a customer in payment of its Aprilaccount, but postdated to May 1. |
| 5. | | $4,260 in the company’s checking account. |
| 6. | | $7,120 in its savings account. |
| 7. | | $60 of prepaid postage in its postage meter. |
| 8. | | A $30 IOU from the company receptionist. |
(a) What balance should Shamrock report as its“Cash and cash equivalents” balance at April 30, 2019?
| Cash and cash equivalents balance at April 30, 2019 | | |
