Question: A new accountant at Marin 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, 2017.
1. $54 of currency and coin in a locked box used for incidental cash transactions.
2. A $10,300 U.S. Treasury bill, due May 31, 2017.
3. $260 of April-dated checks that Marin has received from customers but not yet deposited.
4. An $80 check received from a customer in payment of its April account, but postdated to May 1.
5. $2,880 in the company's checking account.
6. $5,730 in its savings account.
7. $54 of prepaid postage in its postage meter.
8. A $24 IOU from the company receptionist.
(a) What balance should Marin report as its "Cash and cash equivalents" balance at April 30, 2017?