16 Saturn Company received a four-month, 5%, $4,800 note receivable on December 1. The adjusting entry on December 31 will (5 Points) 20 From the following list of accounts, calculate the quick ratio. (5 Points) Cash Accounts receivable Inventory Prepaid insurance $3,000 Accounts payable $ 8,000 6,000 Salary payable..... 3,000 8,000 Notes payable (due in two years). 10,000 2,000 Short-term investments ............. 2,000 a) 2.1 O b) 1.3 O c) 1.0 O d) 14