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Blossom Corporation had the following balances in its accounting records at August 31, 2025: Cheque dated September 15, 2025 from Alters Inc. U.S. bank account with an equivalent balance of $12,000 Canadian Savings account balance Customer cheque dated January 28 2025 6,030 12,000 32,700 1.900

Blossom Corporation had the following balances in its accounting records at August 31, 2025: Cheque dated September 15, 2025 from Alters Inc. U.S. bank account with an equivalent balance of $12,000 Canadian Savings account balance Customer cheque dated January 28 2025 6,030 12,000 32,700 1.900

FINANCIAL ACCOUNTING
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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Current Attempt in Progress Your answer is incorrect. Blossom Corporation had the following balances in its accounting records at August 31, 2025: Cheque dated September 15, 2025 from Alters Inc. U.S. bank account with an equivalent balance of $12,000 Canadian Savings account balance Customer cheque dated January 28, 2025 Treasury bill (60-day terms) Bank overdraft in chequing account Cash and cash equivalents $ 6,030 What amount should Blossom report as cash and cash equivalents at August 31? 70000 12,000 32,700 1,900 25,300 10,700
Transcribed Image Text:Current Attempt in Progress Your answer is incorrect. Blossom Corporation had the following balances in its accounting records at August 31, 2025: Cheque dated September 15, 2025 from Alters Inc. U.S. bank account with an equivalent balance of $12,000 Canadian Savings account balance Customer cheque dated January 28, 2025 Treasury bill (60-day terms) Bank overdraft in chequing account Cash and cash equivalents $ 6,030 What amount should Blossom report as cash and cash equivalents at August 31? 70000 12,000 32,700 1,900 25,300 10,700
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