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What the amount reported by eva company under cash

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In determining the amount to be reported on its December 21, 2020 balance sheet as cash and cash equivalents, the following items were identified;

  1. BDO checking account, includes a P120,000 compensating balance maintained in relation to an existing short-term loan which is not restricted to withdrawal P1,000,000
  2. AUB checking account, includes a P150,000 compensating balance maintained in relation to an existing long-term loan which is legally restricted as to withdrawal 800,000
  3. Bank of Commerce checking account, in which the Company is required to a maintain a minimum average balance of P250,000 at all times to insure future credit availability 750,000

Question 1: The amount reported by Eva Company under cash and cash equivalents is

Reference no: EM132577744

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