Question
You sell socks wholesale and your terms are 1/10 net 90. A customer just purchased $1000 of socks from you. 5 points. How much
You sell socks wholesale and your terms are 1/10 net 90. A customer just purchased $1000 of socks from you. 5 points. How much more or less in dollars would you make or lose if the customer paid you in the first 10 days compared to waiting? Show your calculations. 4 5 points. You can invest your funds at 5% with a bank. Would you rather that your customer pay you in the first 10 days or wait? Show your calculations.
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael H. Granof, Saleha B. Khumawala
6th edition
978-1-119-4958, 9781118473047, 1118155971, 1118473043, 978-1118155974
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