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Q1) Compute debt ratio based on information given below. Make sure to label answer clearly and illustrate all work.

Cash...............................................................100,000

Accounts Payable..........................................40,000

Notes Receivable...........................................20,000

Notes Payable................................................50,000

Sales..............................................................75,000

Common stock...............................................100,000

Retained earnings..........................................300,000

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  • Category:- Accounting Basics
  • Reference No.:- M916981

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