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On December 31,20x1, Alberto Co. has the following cash balances: Cash in Banks Petty Cash Funds (all funds were reimbursed On 12/31/x1) 1,800,000 50,000
On December 31,20x1, Alberto Co. has the following cash balances: Cash in Banks Petty Cash Funds (all funds were reimbursed On 12/31/x1) 1,800,000 50,000 Cash in banks include P600,000 of compensating balances against short-term borrowing arrangements at December 31, 20x1. The compensating balances are not legally restricted as to withdrawal by Alberto. What total amount should be reported as cash?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
