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Question 3 ( 2 8 pts ) : On January 1 , 5 G Company reported current assets of $ 1 9 4 , 4
Question pts: On January G Company reported current assets of $ and current liabilities of $ Compute total current assets, total current liabilities, and the current ratio at January and after each of the following transactions.
January Purchased equipment to be used in operations for $ cash.
January Paid $ cash for accounts payable.
January Acquired a building in exchange for a $ longterm note payable, first payment to occur in years.
January Purchased $ of merchandise on credit, terms
January Sold outdated machinery for $ cash.
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