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Tule Pd Heading 1 1 Headin Paragraph Styles CRN:35565 7. The most recent year-end working capital position of Clipper Ltd is shown below: Current assets: Inventory Trade receivables Bank account 4,000 11,500 ? Current liabilities: Trade payables Bank overdraft 8,000 ? If the current ratio of Clipper Ltd, at its year-end is 2:1. The closing bank balance of the business, therefore, is: a. 500 in credit (current asset) b. 500 overdrawn (current liability) 4,750 overdrawn (current liability) d. 7,750 in credit (current asset) C. tem for