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A major supplier to Blossom Corp. offers 3 0 - day payment terms, with a discount of 2 % if the account is paid within
A major supplier to Blossom Corp. offers day payment terms, with a discount of if the account is paid within days. Blossom has traditionally paid this supplier within days in order to receive the discount. However, Blossom has been notified that this supplier will stop offering any discount for early payment. What will be the most likely effect of this event on Blossoms accounts payable aging report?
Increase in accounts payable to days old.
No effect on the accounts payable aging report.
Decrease in accounts payable older than days.
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