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Allen Company had the following accounts and balances on December 31, 2019: Estimated Liabilities $51,250 Discount...

Allen Company had the following accounts and balances on December 31, 2019:
Estimated Liabilities $51,250 Discount on Notes Payable $150
Cash $20,000 Notes Receivable, maturity 2/1/22 $5,000
Notes Payable, due June 2, 2020 $1,000 Current Maturities of Long-Term

Debt

$6,900
Accounts Receivable $267,500 Unearned Revenue $4,320
Equipment $950,000 Interest Payable $1,010
Accounts Payable $104,400 Wages Payable $6,000
Inventory $85,000 Marketable Equity Securities $40,000
Land $600,000 Common Stock $900,000
Allowance for Doubtful Accounts $12,000
What is Allen Company’s current ratio?

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ekkarill92 answered 1 year ago
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