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Use the following table: Short-term investments Receivables Inventory Prepaid expenses Total current assets Current liabilities Case X $ 830 0 0 2,300 1,700 $ 4,830 $ 2,500 Case Y $ 1,020 0 1,170 1,080 710 $ 3,980 $1,250 Case z $ 1,340 540 950 4,520 1,010 $ 8, 360 $ 3,980 Required: Calculate the quick ratio in each of the above cases and select the case which is in the best position to meet short-term obligations most easily. (Round your answers to 2 decimal places.) Case X Case Y Case z Best Case Quick ratio On January 15, Tundra Co. sold merchandise to customers for cash of $41,000 (cost $28,000). Merchandise costing $10,600 was sold to customers for $15,600 on January 17, terms 2/10, n/30. Sales totalling $299,200 (cost $203,000) were recorded on January 20 to customers using MasterCard, assume the credit card charges a 2% fee. On January 25, sales of $74,000 (cost $49,800) were made to debit card customers. The bank charges Tundra a flat fee of 0.5% on all debit card transactions. Required: Prepare journal entries for each of the transactions described (assume a perpetual inventory system). d View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Record the sale of merchandise to cash customers. Note: Enter debits before credits. Date General Journal Debit Credit Jan 15