following data is from the payment on that date) current accounting records of Florence Company Cash LO4 PIO-8A. Current Ratio, Quick Ratio, and Times-Interest-Earned Ratio The toll $120 200 150 80 110 170 . Other current liabilities . The president of the company is concerned that the company is in violation of a debt coven requires the company to maintain a minimum current ratio of 2.0. He believes this is to reverse a bad debt write-off in the amount of $10 that the company just recorded. He the best way to rectify the write-off was done too early, and that the collections department should be given more time to t the outstanding receivables. The CFO argues that this will have no effect on the current ratio, that so a better idea is to use $10 of cash to pay accounts payable early