Answer:
The correct answer is $17,620.
Step-by-step explanation:
According to the scenario, the computation of the given data are as follows:
We will include the following transaction as a cash and cash equivalents:
1.$60 of currency and coin in a locked box.
2.A $10,000 U.S. Treasury bill.
3.$260 of April-dated checks that Leftwich has received from customers.
5.$2,500 in the company’s checking account.
6.$4,800 in its savings account.
So, we can calculate the cash and cash equivalents by using following formula:
Cash and Cash equivalents = Amount in point 1 + Amount in point 2 + Amount in point 3 + Amount in point 5 + Amount in point 6
By putting the value, we get
= $60 + $10,000 + $260 + $2,500 + $4,800
= $17,620