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    Logistics Company had the following items listed in its trial balance at 12/31/11

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    Logistics Company had the following items listed in its trial balance at 12/31/11:

    Balance in checking account, Bank of the East $442,000
    Treasury bills, purchse on 11/1/11, mature on 1/30/12 20,000
    Loan payable, long-term, Bank of the East 300,000

    Included in the checking account balance is $50,000 of restricted cash that Bank of the East requires as a compensating balance for the $300,000 note. What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

    a $412,000.
    b $462,000.
    c $392,000.
    d $442,000.

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    https://brainmass.com/business/trial-balance/logistics-company-had-the-following-items-listed-in-its-trial-balance-at-12-31-11-493838

    Solution Summary

    This solution helps with a problem regarding trial balance.

    $2.19