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Current assets totaled $100,000 and the current ratio was 1.5. Assume that the following transactions were completed:1. paid $6,000 for merchandise purchase on short-term credit2. purchased a delivery truck for $11,000 cash3. wrote off a bad account receivable for $3,000 and4. Paid previously declared dividends in the amount of $28,000
Required: Compute the cumulative current ratio after each transaction.
Discuss main objectives of non- profit-making organisations
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