A new accountant at Netzloff Inc. is trying to identify which of the amounts shown below should be reported as…

A new accountant at Netzloff 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, 2012.

1.

$58 of currency and coin in a locked box used for incidental cash transactions.

2.

A $13,590 U.S. Treasury bill, due May 31, 2012.

3.

$327 of April-dated checks that Netzloff has received from customers but not yet deposited.

4.

An $85 check received from a customer in payment of its April account, but postdated to May 1.

5.

$3,510 in the company’s checking account.

6.

$5,800 in its savings account.

7.

$74 of prepaid postage in its postage meter.

8.

A $34 IOU from the company receptionist.

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