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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

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

College Accounting (Book Only): A Career Approach
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
Transcribed Image Text: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
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