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Question - Wynn Company has recorded the following items in its financial records.
Cash in bank $47,450
Cash in plant expansion fund 101,102
Cash on hand 13,694
Highly liquid investments 38,481
Petty cash 555
Receivables from customers 96,734
Stock investments 63,065
The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years.
What amount should Wynn report as "Cash and cash equivalents" on its balance sheet?
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