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Compute the updated current ratio

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Question - In its most recent annual report, Appalachian Beverages reported current assets of $51,300 and a current ratio of 1.90. Assume that the following transactions were completed: (1) purchased merchandise for $5,700 on account and (2) purchased a delivery truck for $10,000, paying $2,000 cash and signing a two-year promissory note for the balance. Compute the updated current ratio after each transaction, by showing the cumulative effects of the transactions?

Reference no: EM133135823

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