Solved: What is the maximum additional short-term funding, Finance Basics

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What is the maximum additional short-term funding

Question:

B.J. Industries has a current ratio of 2.5, with $2.5 million in current assets. Due to sales growth, the company wants to expand accounts receivable and inventories by taking on additional short-term debt. If B.J. Industries wants to maintain a minimum current ratio of 2.0, what is the maximum additional short-term funding it can borrow?

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Finance Basics: What is the maximum additional short-term funding

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