Reference no: EM132033568

Question - Logistics Company had the following items listed in its trial balance at 12/31/2016:

Balance in checking account, Bank of the East $342,000

Treasury bills, purchased on 11/1/2016, mature on 1/30/2017 25,000

Loan payable, long-term, Bank of the East 390,000

Included in the checking account balance is $44,000 of restricted cash that Bank of the East requires as a compensating balance for the $390,000 note. What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

$342,000.

$298,000.

$367,000.

$323,000.