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A mid-size retailer has a current ratio of 0.8 and a quick ratio of 0.6. If the retailer reduces its accounts payable by making a

A mid-size retailer has a current ratio of 0.8 and a quick ratio of 0.6. If the retailer reduces its accounts payable by making a cash payment, what will be the effect on the current ratio and quick ratio respectively? Explain your answer

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