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12. At December 30, LuluCo. had cash of $200,000, a current ratio of 1.5:1. On December 31, all cash was used to reduce accounts
12. At December 30, LuluCo. had cash of $200,000, a current ratio of 1.5:1. On December 31, all cash was used to reduce accounts payable. How did the cash payments affect the current ratio? a. Increase b. Decrease c. Remains the same d. Not Applicable
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
