Newton Company has recorded the following items in its financial records. The checking account is...
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Accounting
Newton Company has recorded the following items in its financial records. The checking account is subject to a compensating balance of $5,000. The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investment will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. (a) What amount should Newton report as "Cash and cash equivalents" on its balance sheet? Cash and cash equivalents\$
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