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  3. fauna inc has the following items at year-end: ca

Fauna Inc has the following items at year-end: Cash in First Bank                                                                  $15,000 Postdated checks                                                                         $450 Bank overdraft in checking account at Second Bank               $400 Savings...

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Accounting

  1. Fauna Inc has the following items at year-end:

Cash in FirstBank                                                                  $15,000

Postdatedchecks                                                                         $450

Bank overdraft in checking account atSecondBank               $400

Savings account balance at SecondBank                               $2,600

Treasury bills maturing in 2months                                      $2,500

Petty cash onhand                                                                      $600

Cash in Third Bank (bond sinkingfund)                                $7,500

Customer checks waiting to bedeposited                                 $650

Fauna should report cash and cash equivalents of

Answer & Explanation Solved by verified expert
4.1 Ratings (621 Votes)
Particluars Amount Action to be taken Cash in First Bank 15000 To be added in cash cash equivalents Postdated checks 450 To be    See Answer
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