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Business, 05.05.2020 04:12 samarth4315

Kirk Development buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pays on time, 60 days after the invoice date. Net purchases amount to $650,000 per year. On average, what is the dollar amount of total trade credit (costly + free) the firm receives during the year, i. e., what are its average accounts payable? (Assume a 365-day year, and note that purchases are net of discounts.) a. $125,014 b. $117,534 c. $106,849 d. $107,918 e. $123,945

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Kirk Development buys on terms of 2/15, net 60 days. It does not take discounts, and it typically pa...
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