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What should big corporation report as the balance of cash

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Big Corporation has the following asset balances on Dec 31:

Checking account                     $507,000

Money market                           $10,000

6-month certificate of deposit     $15,000

3-month treasury bill                   $25,000

Point 1: The bank will impose a penalty of 1% per month if the CD is withdrawn prior to maturity. In a contract to obtain financing, Big Corporation agreed to maintain a deposit balance of $200,000 in the checking account.

Question 1: What should Big Corporation report as the balance of Cash and cash equivalents on its balance sheet?

Reference no: EM132483626

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