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| Depoole Company is a manufacturer of industrial products and employs a calendar year for financial reporting purposes. Assume that total quick assets exceeded total current liabilities both before and after each transaction described. Further assume that Depoole has positive profits during the year and a credit balance throughout the year in its retained earnings account. The collection of a current accounts receivable of $29,000 would A. Not affect the current or quick ratios. B. Increase the current ratio. C. Decrease the current ratio and the quick ratio. D. Increase the quick ratio. |