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On June 30 2014 Freeman CompanyAc€?cs total current assets were $497000 and its total current liabilities were $271000 On July 1 2014 Freeman issued a long-term note to a bank for $39200 cash

On June 30, 2014, Freeman CompanyAc€?cs total current assets were $497,000 and its total current liabilities were $271,000. On July 1, 2014, Freeman issued a long-term note to a bank for $39,200 cash.

Required
a.

Compute FreemanAc€?cs working capital before and after issuing the note.

 
Working Capital
Before transaction: ?
After Transaction: ?

       

b.

Compute FreemanAc€?cs current ratio before and after issuing the note. (Round your answers to 2 decimal places.)

 
Current Ratio
Before Transaction: ?
After Transaction: ?

Jun 19 2020 View more View Less

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