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Economic Event BBR's accrued warranty expense account shows a debit balance. To correct the account and show the appropriate liability an increase in accrued warranty
Economic Event BBR's accrued warranty expense account shows a debit balance. To correct the account and show the appropriate liability an increase in accrued warranty expense of $750 is required. Record this economic event. Questions: Blank 1 - The current ratio was .992 before the economic event. What is the current ratio after this event? Blank 2 - The gross margin was 29.3% before this economic event. What is the gross margin after this event? Blank 3 - The profit margin was 6.6% before this economic event. What is the profit margin immediately after this event? Blank 4 - The Debt to Assets ratio was 3.2 before the economic event. What is the debt to assets ratio after this economic event? -Depreciation and amortization (exclusive of depreciation included in cost of sales)
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