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Problem 17-8 (AICPA Adapted) On December 31, 2020, Kale Company had the following balances in the bank accounts with First Bank: Checking account#101 Checking account #201 Time deposit Commercial papers 90-day treasury bill, due February 28, 2021 180-day treasury bill, due March 15, 2021 1,750,000 ( 100,000) 250,000 1,000,000 500,000 800,000 On December 31, 2020, what amount should be reported as cash and cash equivalents? a. 3,400,000 b. 2,000,000 c. 2,400,000 d. 3,200,000