The following are held by Smite Co.:Cash in checking account $20,000Cash in bond sinking fund account 30,000Postdated check from customer dated one month from balance sheet date 250Petty cash 200Commercial paper (matures in two months) 7,000Certificate of deposit (matures in six months 5,000What amount should be reported as cash and cash equivalents on Smite's balance sheet? A. $27,200B. $27,450C. $32,200D. $57,200
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