Dailey Company has the following assets at December 31, 20X1…
Dailey Company has the following assets at December 31, 20X1: $50,000 in a checking account, $30,000 in a savings account, $20,000 in a three-month Treasury bill, a $10,000 compensating balance required by a bank for a long-term loan, and $40,000 in a fund restricted for plant expansion in 20X3. How should this company report its cash and cash equivalents in its December 31, 20X1 balance sheet?k