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PLEASE HELP! At its prior year-end, VPN Company reported current assets of $61,000 and...

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Accounting

imagePLEASE HELP!

At its prior year-end, VPN Company reported current assets of $61,000 and current liabilities of $55,400. 10 1. Acquired inventory for $240 cash. 2. Sold a long-term asset (equipment) for $4,200 cash. 3. Accrued wages payable of $1,700. 8 02:16:28 Determine how each of the above transactions would increase, decrease, or have no effect on total current assets, total current liabilities, and the current ratio. Transaction Current Assets Current Liabilities Current Ratio 1. No Effect 2. 3

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