Question

multiple select question
select all that apply
which of the following items would be considered \cash\ and reflected in a companys cash account? (check all that apply.)

• money orders
• coins
• checks
• notes receivable
• prepaid insurance

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Explanation:

1. Money orders are readily convertible to cash and are treated as cash equivalents in the Cash account.
2. Coins are physical currency, which is the primary form of cash recorded in the Cash account.
3. Checks are immediately negotiable for cash, so they are included in the Cash account upon receipt.
4. Notes Receivable are short-term or long-term receivables, not cash.
5. Prepaid Insurance is a prepaid expense (current asset), not cash.

Answer:

• Money orders
• Coins
• Checks