Sheridan Company has the following items at year-end: Cash in bank $34700 Petty cash $290 Short-term paper with maturity of 2 months $5400 Postdated checks $1270 Sheridan should report cash and cash equivalents of: $40390. $34990. $41660. $34700.

Sheridan Company has the following items at year-end: Cash in bank $34700 Petty cash $290 Short-term paper with maturity of 2 months $5400 Postdated checks $1270 Sheridan should report cash and cash equivalents of: $40390. $34990. $41660. $34700.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Sheridan Company has the following items at year-end:

Cash in bank $34700

Petty cash $290

Short-term paper with maturity of 2 months $5400

Postdated checks $1270

Sheridan should report cash and cash equivalents of:

$40390.

$34990.

$41660.

$34700.

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