a) What is the effective annual cost of credit terms of 1/10 net 30, if the firm stretches the account payable to 40 days? b) Bercraft Ltd has an average accounts payable balance of $280,000. Its average annual cost of goods sold is $4,780,000. It receives terms of 1/20 net 40 from its suppliers. Is Bercraft managing its accounts payables well? c) Below is an aging schedule of accounts receivable for Blue Ridge Ltd. Fill in the rest of the information in the table and calculate its average collection period. How does it compare to the industry average of 30 days? I Age of Account (days) Value of Account % of total account 0-10 11-30 31-45 46-60 Total $211,000 120,360 103,220 72,800