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

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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