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Cash discounts 5 8 ( 2 0 min ) Flint: R = lim ? 1 P T P 1 3 - 5 C . Angic
Cash discounts
min
Flint:
PC Angic Co bought merchandise for $ with credit terms of Because of the bookkeper's incompetence, the cash discount was missed. The bookkeeper told Pete Angie, the owner, not to get excited. After all, it was a $ discount that was missednot hundreds of dollars. Act as Mr Angie's assistant and show the bookkeeper that his $ represents a sizeable equivalent interest cost. In your calculation, assume a day year. Make some written recommendations so that this will not happen again.
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