Question 23 State the effect of the following transactions on the current ratio. Select increase, decrease, or no effect for your answer. (a) Collection of an accounts receivable No Effect A (b) Declaration of cash dividends Decrease (c) Additional stock is sold for cash Increase (d) Accounts payable are paid Increase (e) Equipment is purchased for cash Decrease A (f) Inventory purchases are made for cash Decrease A (9) Temporary investments are purchased for cash No Effect