?? Financial accounting question Tressler Dry Cleaners has an inventory of $1,700,accounts payable of $4,200, cash of $1,950, andaccounts receivable of $3,680.What is the cash ratio?a. 0.24b. 0.46c. 0.53d. 0.98e. 1.34

Step 1: Information providedCash = $1,950Accounts payable is the only current liability provided.…

Answered: Tressler Dry Cleaners has an inventory…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...

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Tressler Dry Cleaners has an inventory of $1,700, accounts payable of $4,200, cash of $1,950, and accounts receivable of $3,680. What is the cash ratio? a. 0.24 b. 0.46 c. 0.53 d. 0.98 e. 1.34