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