Question
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $500,000 each day. The company purchases the inventory under the credit
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $500,000 each day. The company purchases the inventory under the credit terms of 2/15, net 40. APP always takes the discount but takes the full 15 days to pay its bills.
What is the average accounts payable for APP?
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Practical Financial Management
Authors: William R. Lasher
6th Edition
1439080496, 978-1439080498
