Reference no: EM132722931
Question - At December 31, Year 1, Kale Co. had the following balances in the accounts it maintains at First State Bank:
Checking account #101 $175,000
Checking account #201 (10,000)
Money market account 25,000
90-day certificate of deposit, due 2/28/Y 250,000
180-day certificate of deposit, due 3/15/Y. 280,000
Kale classifies investments with original maturities of three months or less as cash equivalents. In its December 31, Year 1, balance sheet, what amount should Kale report as cash and cash equivalents?
A) $200,000
B) $190,000
C) $240,000
D) $320,000
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: Checking account #101 $175,000. In its December 31, Year 1, balance sheet, what amount should Kale report as cash and cash equivalents
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