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Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet?

Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet? O A. $0 O B. $3,400,000 O C. $400,000 D. $5,900,000
Transcribed Image Text:Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet? O A. $0 O B. $3,400,000 O C. $400,000 D. $5,900,000
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