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On June 30, Year 3, Gibson Company's total current assets were $495,500 and its total current liabilities were $275,500. On July 1, Year 3,
On June 30, Year 3, Gibson Company's total current assets were $495,500 and its total current liabilities were $275,500. On July 1, Year 3, Gibson issued a long- term note to a bank for $39,400 cash. Required a. Compute Gibson's working capital before and after issuing the note.
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Financial Reporting Financial Statement Analysis and Valuation
Authors: Clyde P. Stickney
6th edition
324302959, 978-0324302967, 324302967, 978-0324302950
