Short-term debt increase without pushing its current ratio

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Current and Quick Ratios The Nelson Company has $1,690,000 in current assets and $650,000 in current liabilities. Its initial inventory level is $390,000, and it will raise funds as additional notes payable and use them to increase inventory. How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.4? Round your answer to the nearest cent.

Reference no: EM131317571

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