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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 |
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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.
