Multiple Choice
The company has $8,000 in its checking account,$16,000 in its savings account,$800 in petty cash,$20,000 in one-year Treasury bills,and $12,000 in a money market fund.What amount should be reported as cash and cash equivalents on the balance sheet?
A) $24,000
B) $24,800
C) $36,800
D) $56,800
Correct Answer:
Verified
Correct Answer:
Verified
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