Question
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $200,000 each day. The company purchases the inventory under the credit
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $200,000 each day. The company purchases the inventory under the credit terms of 1/15, net 35. APP always takes the discount but takes the full 15 days to pay its bills. What is the average accounts payable for APP? Round your answer to the nearest dollar.
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The Palgrave Handbook Of Technological Finance
Authors: Raghavendra Rau, Robert Wardrop, Luigi Zingales
1st Edition
3030651169, 978-3030651169
