Norton Company Has the Following Assets on January 1, 2010

question 98

Essay

Norton Company has the following assets on January 1, 2010 and January 1, 2009.
If Norton's quick ratio is 2.60 for 2010 and its current liabilities are $512,000, what is the amount of its accounts receivables?
a. $324,000
b. $204,800
c. $715,200
d. There is not enough information to answer this question.

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