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Calculate the Current Ratio Using the Following Information: (Round Your

question 11

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Calculate the current ratio using the following information: (Round your answer to two decimal places.)  Cash $6,000 Accounts Receivable 1,300 Prepaid Rent 1,100 Larid 20,000 Equipment 4,000 Accurnulated Depreciation 1,200 Accounts Payable 3,000 Salaries Payable 1,000 Notes Payable-long term 9,000\begin{array} { l l } \text { Cash } & \$ 6,000 \\\text { Accounts Receivable } & 1,300 \\\text { Prepaid Rent } & 1,100 \\\text { Larid } & 20,000 \\\text { Equipment } & 4,000 \\\text { Accurnulated Depreciation } & 1,200 \\\text { Accounts Payable } & 3,000 \\\text { Salaries Payable } & 1,000 \\\text { Notes Payable-long term } & 9,000\end{array}


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