do fast answer this general 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: Understanding the Cash RatioThe cash ratio measures a company's ability to pay its current…

Answered: Tressler Dry Cleaners has an inventory…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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