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The December 31, Year 1, balance sheet of Rowan Company shows current assets of $18,000 and current liabilities of $11,000. On January 1, Year 2, the company recorded the following entries: Account Title Debit Credit Cash 2,900 Common stock 2,900 Cash 2,600 Accounts receivable 2,600 After the two journal entries were recorded, what is the company’s current ratio?
Sagot :
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