Anew accountant at sage hill inc. is trying to identify which of the amounts shown below should be reported as the current asset “cash and cash equivalents” in the year-end balance sheet, as of april 30, 2017.
1. $80 of currency and coin in a locked box used for incidental cash transactions.
2. a $11,600 u. s. treasury bill, due may 31, 2017.
3. $325 of april-dated checks that sage hill has received from customers but not yet deposited.
4. an $80 check received from a customer in payment of its april account, but postdated to may 1.
5. $4,320 in the company’s checking account.
6. $7,070 in its savings account.
7. $52 of prepaid postage in its postage meter.
8. a $50 iou from the company receptionist.
what balance should sage hill report as its “cash and cash equivalents” balance at april 30, 2017?

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.