You place an order for 2,400 units of Good X at a unit price of $61. The supplier offers terms of 1/20, net 50. (Enter your answer as directed, but do not round intermediate calculations.)

Requirement 1:

(a)	How long do you have to pay before the account is overdue?

Number of days

days

(b)	If you take the full period, how much should you remit?

Remittance

$

Requirement 2:

(a)	What is the discount being offered? (Enter your answer as a percentage.)

Discount rate

%

(b)	How quickly must you pay to get the discount?

Number of days

days

(c)	If you do take the discount, how much should you remit?

Remittance

$

Requirement 3:

(a)	If you dont take the discount, how much interest are you paying implicitly?

Implicit interest

$

(b)	How many days credit are you receiving?

Days credit

days