Peterson Company has the following items at year-end: $\begin{array}{lr}
\text { Cash in bank } & \$ 30,000 \
\text { Petty cash } & 500 \
\text { Short-term paper with maturity of } 2 \text { months } & 8,200 \
\text { Postdated checks } & 2,100
\end{array}$ Peterson should report cash and cash equivalents of

Question

Quizplus · Accepted Answer

Cash and cash equivalents include cash in bank, petty cash, and short-term paper with a maturity of less than 3 months. Postdated checks are not included. Therefore, the total is $30,000 + $500 + $8,200 = $38,700.

Peterson Company Has the Following Items at Year-End Peterson Should Report Cash and Cash Equivalents of A)$30,000

Peterson Company Has the Following Items at Year-End Peterson Should Report Cash and Cash Equivalents of
A)$30,000