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University of California, Berkeley, UGBA 120AB,Problem 1-6 INTACC 1,

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University of California, Berkeley,UGBA 120AB,Problem 1-6 INTACC 1,all answers are 100% correct

Institution
University Of California - Berkeley
Course
UGBA 120AB (UGBA120AB)

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Problem 1-6 (AICPA Adapted)
Smile Company provided the following information on December 31; 2024:
Cash in checking account 2,000,000
Cash in bond sinking fund 3,000,000
Postdated check from customer, dated one month
after December 31, 2024 250,000
Petty cash fund 50,000
Commercial paper, maturing in two months 700,000
Certificate of deposit, maturing in six months 500,000
Marketable equity security 1,000,000
Marketable debt security 750,000


What amount should be reported as cash and cash equivalents on December 31, 2024?
a. 5,750,000
b. 4,500,000
c. 2,750,000
d. 3,500,000




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