Multiple Choice
As of December 31, 2013, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, 2014, Gant collected $5,200 of accounts receivable. As a result of this transaction, Gant's working capital will:
A) Increase.
B) Decrease.
C) Remain the same.
D) Cannot be determined.
Correct Answer:

Verified
Correct Answer:
Verified
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