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4.2 REQUIRED Use the information given below to calculate the cost (as a percentage, expressed to two decimal places) to Samke Retailers of not accepting

4.2 REQUIRED Use the information given below to calculate the cost (as a percentage, expressed to two decimal places) to Samke Retailers of not accepting the cash discount. (Assume a 360-day year.) (4 marks)

INFORMATION:

Brics Wholesalers offers Samke Retailers credit terms of 30 days but allows a discount of 2.5% if the account is settled in full within 12 days.

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