Phong owns a small gift shop that does most of its annual business between Thanksgiving and Christmas. Although Phong has received much of the inventory that he will sell, he will not have to pay for it immediately; rather, he receives an invoice from the supplier and must pay what he owes in $30$ days. This is a type of short$-$term funding known as

Multiple Choice

trade credit.

a line of credit.

an unsecured loan. $$

commercial paper.