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Discuss how each of the following transactions will affect the financial ratios specified in the table. You are required to provide the detailed explanations (4 Marks) Transaction Ratio 1. Purchased inventory on credit in Quick ratio perpetual inventory system 2. Wrote off the estimated bad debt Current against Allowance for Doubtful Debts ratio 3. Collected an account receivable Receivables turnover 4. Paid trade accounts payable Return on assets