Sunland Company has recorded the following items in its financial records. Cash in bank Cash...
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Sunland Company has recorded the following items in its financial records. Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments Petty cash Receivables from customers Stock investments $49,600 109,100 12,100 37,600 540 89,400 67,600 The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. (a) What amount should Sunland report as "Cash and cash equivalents" on its balance sheet? Cash and cash equivalents $
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