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Discuss how each of the following transactions will affect the financial ratios specified in the table (i. e. increase, decrease, no effect). You are required

Discuss how each of the following transactions will affect the financial ratios specified in the table (i. e. increase, decrease, no effect). You are required to provide the detailed explanations. (3 Marks) Transaction 1. Purchased inventory on credit. Ratio Quick ratio Receivables turnover Return on assets 2. Collected an account receivable 3. Paid accounts payable

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