Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2021: Currency and coins $ 620 Balance in checking account 1,600 Customer checks waiting to be deposited 2,500 Treasury bills, purchased on 11/1/2021, mature on 4/30/2022 2,700 Marketable equity securities 10,600 Commercial paper, purchased on 11/1/2021, mature on 1/30/2022 5,900 What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents? 1.$7,420. 2.$10,620. 3.$23,920. 4.$13,320.

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is 2. $10,620.

Explanation:

Given:

Currency and coins= $620

Balance in checking account= $1,600

Customer checks waiting to be deposited= $2,500

Treasury bills= $2700

Marketable equity securities= $10,600

Commercial paper cost= $5900

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents= 620+1600+2500+5900

                         = $10,620

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is $10,620.

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23