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Analyzing the impact of selected transactions on the

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Analyzing the Impact of Selected Transactions on the Current Ratio - Current assets totaled $54,000 and the current ratio was 1.5. Assume that the following transactions were completed: (1) purchased merchandise for $7,000 on short-term credit and (2) purchased a delivery truck for $12,000, paid $3,000 cash, and signed a two-year interest-bearing note for the balance.

Required:

Compute the cumulative current ratio after each transaction.

Reference no: EM13479906

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