Halifax Fisheries Inc. began the month of March with $$776,000$ of current assets, a current ratio of $2\mathrm{.}5$ to $1,$ and a quick ratio of $1\mathrm{.}1$ to $1.$ During the month, it completed the following transactions:

$$

Mar. $6$ Bought $$87,600$ of merchandise on account. $($The company uses a perpetual inventory system.$)$

$11$ Sold merchandise that cost $$73,200$ for $$126,000.$

$15$ Collected a $$31,600$ account receivable.

$17$ Paid a $$33,600$ account payable.

$19$ Wrote off a $$15,600$ bad debt against Allowance for Doubtful Accounts.

$24$ Declared a $$2\mathrm{.}55$ per share cash dividend on the $42,600$ outstanding common shares.

$28$ Paid the dividend declared on March $24.$

$29$ Borrowed $$98,000$ by giving the bank a $30-$day, $16\%$ note.

$30$ Borrowed $$126,000$ by signing a long$-$term secured note.

$31$ Used the $$224,000$ proceeds of the notes to buy additional machinery.