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1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?

1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 5TF: LO4 Accounts receivable turnover is the number of times merchandise inventory turned over or was...
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1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?
Transcribed Image Text:1. a. The quick ratio is 0.09, cash is $10,000 and accounts receivable are $25,000. Accounts payable are $40,000, and accrued payroll is $15,000. What is the amount in the inventory account?
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