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Blossom Incorporated had the following transactions involving current assets and current abilities during February 2022. Feb. 3 Collected accounts receivable of $15,400. 7 Purchased
Blossom Incorporated had the following transactions involving current assets and current abilities during February 2022. Feb. 3 Collected accounts receivable of $15,400. 7 Purchased equipment for $28,200 cash 11 Paid $3,600 for a 1-year insurance policy. 14 Paid accounts payable of $11,100. 18 Declared cash dividends of $5,400. Additional information As of February 1, 2022, current assets were $133,920, and current abilities were $49,400 Compute the current ratio as of the beginning of the month and after each t February 1 February 7 February 11 February 14 February 18 Current ratio eTextbook and Media
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