On June 30, Year 3, Vernon Companys total current assets were $503,000 and its total...
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Accounting
On June 30, Year 3, Vernon Companys total current assets were $503,000 and its total current liabilities were $279,000. On July 1, Year 3, Vernon issued a long-term note to a bank for $39,800 cash. Required a. Compute Vernons working capital before and after issuing the note. b. Compute Vernons current ratio before and after issuing the note. (Round your answers to 1 decimal place.)
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