On May 1, 2021, JayKay Inc. used idle cash to purchase U.S. Treasury notes on the secondary market. The notes were originally issued by the government on September 16, 2019 and pay 1% interest. The notes mature on September 15, 2021. How should JayKay classify these Treasury notes?

Group of answer choices

a. As short-term investments

b. As a financing activity

c. As cash equivalents, similar to money market funds

d. As a non-cash investing activity