Question
Problem 16-5 Accounts Payable A chain of appliance stores, APP Corporation, purchases inventory with a net price of $700,000 each day. The company purchases the
Problem 16-5 Accounts Payable
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $700,000 each day. The company purchases the inventory under the credit terms of 1/15, net 35. APP always takes the discount, but takes the full 15 days to pay its bills. What is the average accounts payable for APP? Round your answer to the nearest dollar.
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Public Finance In Canada
Authors: Harvey S. Rosen, Wen, Snoddon
4th Canadian Edition
0070071837, 978-0070071834
