The following information is available for Birch Company at December 31: Money market fund balance $ 2,880 Certificate of deposit maturing June 30 of next year $ 15,900 Postdated checks from customers $ 1,700 Cash in bank account $ 23,331 NSF checks from customers returned by bank $ 740 Cash in petty cash fund $ 290 Inventory of postage stamps $ 27 U. S. Treasury bill purchased on December 15 and maturing on February 28 of following year $ 10,900 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of: Multiple Choice $42,428 $39,841 $53,301 $37,401 $38,361

$37,401

Explanation:

The computation of the Cash and Cash Equivalents is shown below:

= Money market fund balance  + cash in bank account + cash in petty cash fund account + U.S treasury bill account

= $2,880 + $23,331 + $290 + $10,900

= $37,401

We simply applied the above formula to determine the cash and cash equivalent

Therefore, we ignored all other information mentioned in the question

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