Question: Multiple Choice Question Reston Corp. borrowed $ 2 0 , 0 0 0 from First National Bank on a 6 - month note at 8

Multiple Choice Question
Reston Corp. borrowed $20,000 from First National Bank on a 6-month note at 8% interest. Reston has an informal arrangement with no contractual agreement with the bank to maintain a compensating balance of $2,000 until the loan is repaid. Reston should report the $2,000 as
noncurrent assets.
cash and cash equivalents.
restricted current assets.
accounts payable.
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Multiple Choice Question Reston Corp. borrowed $20,000 from First National Bank

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