cash and cash equivalents
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 6DQ
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Question
At December 31, 2021, ABC Company has the following items in its safe. Which of the following should NOT be included under cash and cash equivalents at December 31, 2021?
a. A past-due promissory note in favor of ABC Company by its president
b. ABC Company's December 28, 2021, P50,000 check payable to NSR Company, an ABC Company's supplier
c. XYZ Company's check dated December 5, 2021, P15,000 payable to ABC Company
d. US$15,000 cash
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