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Question 3 ( 2 8 pts ) : On January 1 , 5 G Company reported current assets of $ 1 9 4 , 4

Question 3(28 pts): On January 1,5 G Company reported current assets of $194,400 and current liabilities of $162,000. Compute total current assets, total current liabilities, and the current ratio at January 1 and after each of the following transactions.
January 5 Purchased equipment to be used in operations for $48,600 cash.
January 12 Paid $13,500 cash for accounts payable.
January 18 Acquired a building in exchange for a $267,300 long-term note payable, first payment to occur in 3 years.
January 22 Purchased $32,400 of merchandise on credit, terms n45.
January 31 Sold outdated machinery for $34,290 cash.
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