BE7.1 (LO 1) Kraft Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account Checking account balance Postdated checks Certificates of deposit (180-day) 68,000 17,000 Cash on hand 9:300 750 Cash refund due from IRS 31,400 90,000 What amount should be reported as cash?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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BE7.1 (LO 1) Kraft Enterprises owns the following assets at December 31, 2020.
Cash in bank-savings account
Checking account balance
Postdated checks
Certificates of deposit (180-day)
68,000
17,000
Cash on hand
9:300
750
Cash refund due from IRS
31,400
90,000
What amount should be reported as cash?
Transcribed Image Text:BE7.1 (LO 1) Kraft Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account Checking account balance Postdated checks Certificates of deposit (180-day) 68,000 17,000 Cash on hand 9:300 750 Cash refund due from IRS 31,400 90,000 What amount should be reported as cash?
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