What amount Logistics include in its year-end balance sheet

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Question - Logistics Company had the following items listed in its trial balance at 12/31/2018:

Balance in checking account, Bank of the East $422,000

Treasury bills, purchased on 11/1/2018, mature on 1/30/2019 22,000

Loan payable, long-term, Bank of the East 330,000

Included in the checking account balance is $55,000 of restricted cash that Bank of the East requires as a compensating balance for the $330,000 note. What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

$367,000.

$444,000.

$389,000.

$422,000.

Reference no: EM132560974

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