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| Gil Corp. has current assets of $90,000 and current liabilities of $180,000. Which of the following transactions would improve Gil’s current ratio? A. Paying $20,000 of short-term accounts payable. B. Refinancing a $30,000 long-term mortgage with a short-term note. C. Collecting $10,000 of short-term accounts receivable. D. Purchasing $50,000 of merchandise inventory with a short-term account payable. |