Question
The Stewart Company has $2,049,500 in current assets and $758,315 in current liabilities. Its initial inventory level is $512,375, and it will raise funds as
The Stewart Company has $2,049,500 in current assets and $758,315 in current liabilities. Its initial inventory level is $512,375, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0? Round your answer to the nearest dollar.
____$
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel
3rd Edition
0730302296, 978-0730302292
