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Business, 27.11.2019 03:31 dallisryan

At december 31, year 1, kale co. had the following balances in the accounts it maintains at first state bank: checking account #101 $175,000 checking account #201 (10,000) money market account 25,000 90-day certificate of deposit, due 2/28/y2 50,000 180-day certificate of deposit, due 3/15/y2 80,000 kale classifies investments with original maturities of three months or less as cash equivalents. in its december 31, year 1, balance sheet, what amount should kale report as cash and cash equivalents? a) $200,000 b) $190,000 c) $240,000 d) $320,000

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