Burr company had the following account balances at December 31, Year 1: cash in Banks:...
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Accounting
Burr company had the following account balances at December 31, Year 1:
cash in Banks: $2,250,000
cash on hand: $ 125,000
cash legally restricted for additions to plance
(expected to be disbursed in Year 2) : 1,600,000
Cash in banks includes $600,00 of compensating balances relatd to short term borrowing arrangements. The compensating balances are not legally resricted as withdrawal by Burr. In the current assets section of Burr's December 31, Year 1, balance sheet, total cash should be reported at:
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