Which of the following is correct?

1-) Regarding accounts payable, a firm should take the cash discount if the cost of trade credit exceeds the cost of borrowing from the bank.

2-) If the firm gives up the cash discount and accepts supplier credit, the firm should pay the bill on the first day of the net credit period.

Group of answer choices 2 only. Both 1 and 2. 1 only. Neither 1 nor 2.