Cash and Cash Equivalents
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash – comprises cash on hand, cash in bank and cash treasury accounts.
Unreleased checks are not physically cancelled. At the start of the following year,
the adjusting entry above is reversed to recognize the availability of the checks
for release.
This procedure does not apply to the “Cash – Modified Disbursement System
(MDS)” account because there is no actual cash with the Government Servicing
Bank.