The following information is available for Birch Company at December 31: Money market fund balance$2,790 Certificate of deposit maturing June 30 of next year$10,000 Postdated checks from customers$1,475 Cash in bank account$21,430 NSF checks from customers returned by bank$650 Cash in petty cash fund$200 Inventory of postage stamps$24 U.S. Treasury bill purchased on December 15 and maturing on February 28 of following year$5,000 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:
A. $39,420
B. $41,345
C. $31,345
D. $38,770
E. $29,420
Answer: E
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