*Please show your calculations*

Explain the significance of financing with accounts payable. Also, explain the rationale of taking a cash discount, such as 2/10, net/30. Additionally, determine the approximate balance of accounts payable, if a company stretches its payables to 60 days and on average they make purchases of $50,000 per day from their vendors. Explain what the stretching accomplishes if the vendors should be paid in 30 days.

*Please write a min of one paragraph and a maximum of 2