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Compute Munoz current ratio before and after issuing note

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Reference no: EM133061688

Question - On June 30, Year 3, Munoz Company's total current assets were $498,500 and its total current liabilities were $275,500. On July 1, Year 3, Munoz issued a long-term note to a bank for $39,400 cash.

Required -

a. Compute Munoz's working capital before and after issuing the note.

b. Compute Munoz's current ratio before and after issuing the note.

Reference no: EM133061688

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