How is the zakat calculated for a merchant who possesses cash, merchandise, and post-dated checks that mature at different times, taking into consideration a fatwa that obligates zakat only on cash and merchandise, but not on checks?

Zakat is obligatory upon you for the cash funds you possess (15,000 EGP) and for the merchandise, valued at its price on the day Zakat is due, by giving out one-quarter of one-tenth (2.5%). As for the delayed checks, since they are trade funds with anticipated profits, Zakat is due on them this year and the following years before they are collected. Regarding debts, if they are owed by a solvent and capable debtor who acknowledges them, Zakat is due on them every time a year passes. However, if the debtor is insolvent or denies the debt, Zakat is due on them for one year upon their collection. Zakat is also obligatory on the current accounts held with customers as long as you hope to obtain them or get your merchandise back.