Janice Janitorial Supplies has cash of $28,000; net accounts receivable of $33,500; short-term investments of $6,000 and inventory of $20,000. It also has $22,500 in current liabilities and $37,500 in long-term liabilities. The current ratio for Janice Janitorial Supplies is:
August 27, 2014
Joshua owns an apartment complex with 7 tenants. Each unit rents for $1,500 per month. At the end of April, three tenants were past due on paying their rent. Which of the following represents the correct adjusting journal entry Matt should make at the end of April?
August 26, 2014