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ter 13 Chapter 13 Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate compi Help Plum Corporation began the month of May with $900.000 of current assets, a current ratio of 2.70:1, and an acid-test ratio of 130:1 During the month, it completed the following transactions the company uses a perpetual Inventory system) May 2 Purchased $60,000 of merchandise inventory on credit. 8 Sold merchandise inventory that cost $60,000 for $155,000 cash. 10 Collected $28,000 cash on an account receivable. 15 Paid $24,500 cash to settle an account payable. 17 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account. 22 Declared a $1 per share cash dividend on ita 62,000 shares of outstanding common stock. 26 Paid the dividend declared on May 22.11 27 Borrowed $125,000 cash by giving the bank a 30-day, 10 note. 28 Borrowed $145,000 cash by signing a long-term secured note. 29 Used the 8270,000 cash proceeds from the notes to buy new machinery, Required: Complete the table showing Plum's (1) current ratio, (2) acid-test ratio, and (3) working capital after each transaction. (Do not round intermediate calculations. Round your ratios to 2 decimal places and the working capitals to nearest dollar amount.Subtracted amount should be indicated with a minus sign.) W Transaction an Current Assets Q uick Assets Answer is not complete. Current Current Acid-Test Liabilities Ratio atio 3 33,333 M 2. 70 1 MA orkine Capital 566,667 Beginning May 2 900,000 433,333 30 Balance W 900,000 156 333,333 rev 4 !!! Next > IUIUS, Jact comple Transaction Beginning May 2 Current Assets $ 900,000 Quick Assets 433,333 3 Answer is not complete. Current Current Acid-Test Liabilities Ratio Ratio $ 333,333 2. 70 1 .30 Working Capital $ 566,667 60,000 Balance 900,000 155,000 333,333 May 8 (60,000) Balance May 10 28,000 28.000 Balance May 15 (24,500) (24,500) Balance May 17 (5,000) Balance May 22 Balance MacBook Pro WUT you have completed so far, it does not indicate com May 17 (5,000) Balance May 22 Balance May 26 (62.000) Balance May 27 125,000 125,000 Balance H May 28 145,000 Balance May 29 (270.000) Balance Prev 4 of 5 !! Next > MacBook Pro