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Assume current assets totaled $ 5 3 , 0 0 0 and the current ratio was 1 . 2 before the following independent transactions: Purchased
Assume current assets totaled $ and the current ratio was before the following independent transactions:
Purchased merchandise for $ on shortterm credit.
Purchased a delivery truck for $ Paid $ cash and signed a twoyear interestbearing note for the balance.
Required:
Compute the current ratio after each independent transaction.
Note: Round your answers to decimal places.
Answer is complete but not entirely correct.
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