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The Ronnie Lee Company reported the following: Accounts payable $2,400 Inventory 900 Cash 1,300 Long-term debt Equipment 8,500 12,600 If the company purchased $500
The Ronnie Lee Company reported the following: Accounts payable $2,400 Inventory 900 Cash 1,300 Long-term debt Equipment 8,500 12,600 If the company purchased $500 of equipment, what is its current ratio after the transaction is recorded? Round your answer to two decimal places.
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Financial Accounting Theory
Authors: William R. Scott
7th edition
132984660, 978-0132984669
