A company extends credit to customers because it expects the: Multiple Choice benefits from the rise in sales revenue to be greater than the cost of extending credit. * aces interest charged to be greater than the cost of extending credit. tax savings from a lower net income to be greater than the cost of extending credit O because its borrowing cost is lower than the cost of extending credit 1 of 25 Voy Purrfect Pets sells a $1,500 aquarium to a customer on account. This would be recorded under: Multiple Choice O non-trade receivables cash trade accounts receivable. notes receivable When interest is calculated for periods shorter than a year, the formula to calculate interest is 1-P*R*T, where: Multiple Choice O I= interest calculated. P = principal, Rannual interest rate and T = number of months O 1 - interest calculated, p-principal. R=annual interest rate, and T = (number of months 12) O 1= interest calculated, Principal, R = monthly interest rate, and T = number of months-12) none of the choices are correct