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Compute Chase Company's current ratio using the following information: Cash $20,000 Accounts Payable $8,000 Accounts Receivable 5,000 Salaries Payable 12,000 Prepaid Rent 7,000 Note Payable

Compute Chase Company's current ratio using the following information: Cash $20,000 Accounts Payable $8,000 Accounts Receivable 5,000 Salaries Payable 12,000 Prepaid Rent 7,000 Note Payable (due in 4 years) 150,000 Equipment 12.000

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