Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Receivable days are 3 0 . Credit sales in year $ 3 0 , 0 0 0 Payables are $ 4 , 0 0 0

Receivable days are 30.
Credit sales in year $30,000
Payables are $4,000
Inventory is $3,000
And there is a bank overdraft of $2,000 and a 10% long term loan of $4,000
What is the current ratio?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions