Logistics Company had the following items listed in its trial balance at 12/31/2016:
Included in the checking account balance is $50,000 of restricted cash that Bank of the East requires as a compensating balance for the $300,000 note.What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

Question

Logistics Company had the following items listed in its trial balance at 12/31/2016: 
Included in the checking account balance is $50,000 of restricted cash that Bank of the East requires as a compensating balance for the $300,000 note.What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

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The Answer of Logistics Company had the following items listed in its trial balance at 12/31/2016: 
Included in the checking account balance is $50,000 of restricted cash that Bank of the East requires as a compensating balance for the $300,000 note.What amount will Logistics include in its year-end balance sheet as cash and cash equivalents?

Logistics Company Had the Following Items Listed in Its Trial