Question
Apache Corp offers its customers payment terms of 4/10 EOM, net 70. Assuming 365 days in a year, calculate the implicit cost of trade credit
Apache Corp offers its customers payment terms of 4/10 EOM, net 70. Assuming 365 days in a year, calculate the implicit cost of trade credit (Do not round intermediate calculations. Round final answer to two decimal places).
A. none of the answers is correct.
B. 28.19%
C. 30.69%
D. 16.08%
E. 48.95%
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
