Question

Use the information provided to determine the values for the missing information (indicated by shaded boxes):
Current assets on December 31, 2018 ? $275,000
Current liabilities on December 31, 2018 ? $ _______
Current ratio on December 31, 2018 ? 1.25
Quick assets on December 31, 2018 ? $ _______
Quick ratio on December 31, 2018 ? 0.85
Accounts receivable on December 31, 2018 ? $55,000
Accounts receivable on December 31, 2017 ? $45,000
Revenues (all on credit) during 2018 ? $ _______
Accounts receivable turnover ratio for 2018 ? 5.75
Average collection period of accounts receivable for 2018 ? _______



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  • CreatedFebruary 26, 2015
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