Question: Kaniper Company has the following items at year-end:
Cash in bank $20,000
Petty cash 300
Short-term paper with maturity of 2 months 5, 500
Postdated checks 1, 400
Kaniper should report cash and cash equivalents of
A) $20,000.
B) $20, 300.
C) $25, 800.
D) $27, 200.
E) $21, 700.