Giertsen Products presently has a current ratio of 2.0 to 1 and a quick ratio of 1.8 to 1. For each of the following transactions, specify the effect of the transaction on these two ratios. Use I for increase, D for decrease, and NC for no change. Consider each transaction separately.

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Current Quick A. Collection of an account receivable B. Recording accrued but unpaid interest C. Purchase of inventory on account D. Payment of an account payable E. Borrowing from the bank on a short-term note. F. Purchase of temporary investments G. Payment of insurance premium of six months in advance H. Additional contributions of cash madc by owners I. Purchase of equipment with a cash down payment and long-term note payable J. Granted a sales allowance to a credit customer