Problem regarding the short-term debt

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The Petry Company has $1,134,500 in current assets and $453,800 in current liabilities. Its initial inventory level is $294,970, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0? Round your answer to the nearest cent.

Reference no: EM13982421

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