Question: Current assets totaled $ 5 0 , 0 0 0 and the current ratio was 1 . 2 . Assume that the following transactions were
Current assets totaled $ and the current ratio was Assume that the following transactions were completed: purchased merchandise for $ on shortterm credit and purchased a delivery truck for $ paid $ cash, and signed a twoyear interestbearing note for the balance. Required: Compute the cumulative current ratio after each transaction. Round your final answer to decimal places.
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