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(Solution) - Brown Industries has the following items Currency 15 500 Customer

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Brown Industries has the following items:
Currency ............................ $15,500
Customer checks that have not been deposited ............. 675
Cash in saving and checking accounts .................. 35,000
Certificates of deposits that originally matured in 18 months ......... 44,000
U.S. government bonds that originally matured in 2 months ........ 8,000
U.S. government bonds that originally matured in 12 months ......... 10,000
Required:
How much should Brown report as cash and equivalents on its balance sheet?

 







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This question was answered on: Jul 11, 2017

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