Halston Consulting Company reported these ratios at December 31, 2016 (dollar amounts in millions): Halston Consulting completed

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Halston Consulting Company reported these ratios at December 31, 2016 (dollar amounts in millions):
Halston Consulting Company reported these ratios at December 31, 2016
Halston Consulting Company reported these ratios at December 31, 2016

Halston Consulting completed these transactions during 2017:
a. Purchased equipment on account, $8
b. Paid long-term debt, $10
c. Collected cash from customers in advance, $5
d. Accrued interest expense, $2
e. Made cash sales, $ 12
Determine whether each transaction improved or hurt the business's current ratio and debt ratio.

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Financial Accounting

ISBN: 978-0134127620

11th edition

Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz

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