Discuss how each of the following transactions will affect the financial ratios specified in the table. You are required to provide the detailed explanations (4 Marks) Transaction Ratio 1. Purchased inventory on credit in Quick ratio perpetual inventory system 2. Wrote off the estimated bad debt Current ratio gainst Allowance for Doubtful Debts 3. Collected an account receivable Receivables turnover 4. Paid trade accounts payable Return on assets Word limit: 250 (Type your response directly into the template in the text box below.)