Answer: $500
Explanation:
Interest for the period = Amount borrowed * Interest rate * 120/360 days
= 15,000 * 10% * 120/360
= $500
The current ratio for Vito Co. with respect to the period under review is 1.5
<h3>What is current ratio?</h3>
The current ratio, also known as the working capital ratio, measures the capability of a business to be able to meet its short term financial obligations.
The Current Ratio formula is
= Current Assets / Current Liabilities
= $9,000 / $6,000
= 1.5
Therefore, the current ratio for Vito Co. with respect to the period under review is 1.5
Learn more about current ratio here: https://brainly.in/question/45000916
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