Question: Use the information provided to determine the values for the missing information (indicated by shaded boxes): Current assets on December 31, 2017? $ _____ Current

Use the information provided to determine the values for the missing information (indicated by shaded boxes):

Current assets on December 31, 2017? $ _____

Current liabilities on December 31, 2017? $1,325,000

Current ratio on December 31, 2017? 1.15

Quick assets on December 31, 2017? $850,000

Quick ratio on December 31, 2017? _____

Accounts receivable on December 31, 2017? $ ______

Accounts receivable on December 31, 2016? $207,000

Revenues (all on credit) during 2017? $2,750,000

Accounts receivable turnover ratio for 2017? _______

Average collection period of accounts receivable for 2017? 32 days


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