Question

30. Klepper Company has the following items at year-end: Cash in bank= $35,000 Tax refund due...

30. Klepper Company has the following items at year-end:

Cash in bank= $35,000

Tax refund due from IRS= $7,500

Petty cash= $300

Postage stamps= $500

Certificate of deposit with a maturity date in 2 months= $5,500

Commercial paper with a maturity date in 4 months= $10,000

Postdated checks= $1,400

How much should Klepper report as cash and cash equivalents?

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