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Young company has the following assets and liabilities

Question - Young Company has the following assets and liabilities:

Assets

Cash $35,000

Accounts receivable 15,000

Inventory 30,000

Equipment 50,000

Liabilities

Current portion of long-term debt $10,000

Accounts payable 2,000

Long-term debt 25,000

Determine the quick ratio (rounded to one decimal point).

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Accounting Basics: Young company has the following assets and liabilities

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Accounting Basics: Young company has the following assets and liabilities

Reference No:- TGS02661928

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