Calculate current ratio at end of January

ECT C A newconnect.mheducation.com/flow/connect.html Gmail YouTube Maps w Bb Homework (Ch 16) C 6. The Fisher Effe... Study 47 Terms |... PROJECT i Saved Help Save & Exit 7 Check Accounts Debit Credit Cash $ 26,500 Accounts Receivable 49, 000 Allowance for Uncollectible Accounts $ 5,600 Part 7 of 7 Inventory 21, 400 Land 60, 000 Equipment 22, 000 Accumulated Depreciation 2, 900 s Payal 29 ,900 15 Notes Payable (6%, due April 1, 2022) 64, 000 points Common Stock 49 , 000 Retained Earnings 27, 500 Skipped Totals $178 , 900 $178, 900 eBook During January 2021, the following transactions occur: References January 2 Sold gift cards totaling $10, 800. The cards are redeemable for merchandise within one year of the purchase date. January 6 Purchase additional inventory on account, $161,000. January 15 Firework sales for the first half of the month total $149,000. All of these sales are on account. The cost of the units sold is $80, 800. January 23 Receive $126,800 from customers on accounts receivable. January 25 Pay $104, 000 to inventory suppliers on accounts payable. January 28 Write off accounts receivable as uncollectible, $6,200. January 30 Firework sales for the second half of the month total $157,000. Sales include $15,000 for cash and $142, 000 on account. The cost of the units sold is $86,500. January 31 Pay cash for monthly salaries, $53, 400. 7. Analyze the following for ACME Fireworks Requirement 1: a-1. Calculate the current ratio at the end of January