Problem: Emma Co.'s records reveal the following data at year-end:
Commercial paper maturing in four months $1,600
Un-cashed tax refund check 1,000
Petty cash 155
Certificates of deposit 1,675
Balance in Union Savings and Loan savings account 3,000
Postage 50
Balance in United Bank checking account (250)
Treasury notes maturing in six months 2450
Cash on hand 650
Postdated customer check 175
Employee travel advance 195
Treasury bill maturing in one month 5,500
Assignment Requirement: Compute the correct amount of cash and cash equivalents that will appear as a current asset on Emma Co.'s balance sheet.
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