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Q1) Taft Technologies has the following relationships:

Annual sales $1,200,000
Current liabilities $375,000
Days sales outstanding (DSO) (360-day year) 40
Inventory Turnover ratio 4.8
Current ratio 1.2

Company's current assets comprise of cash, inventories, and accounts receivable. How much cash does Taft have on its balance sheet?

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M921288

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