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Question
Summary data from the quarterly balance sheets of ACH Air Conditioners are shown below.| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
| Current Assets | $50,000 | $90,000 | $75,000 | $30,000 |
| Fixed Assets | $60,000 | $60,000 | $60,000 | $60,000 |
| Liabilities | $70,000 | $110,00 | $95,000 | $50,000 |
| Equity | $40,000 | $40,000 | $40,000 | $40,000 |
b. What would be the highest and lowest levels of temporary debt?
Answer
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