Question
Your company is considering granting credit to a new customer on a one time sale. The price per unit is $225 and the variable cost
Your company is considering granting credit to a new customer on a one time sale. The price per unit is $225 and the variable cost per unit is $185. The monthly interest rate is 1%. The customer will pay in 30 days if they do not default. What is the break-even default percent?
Multiple Choice
- 17.3%
- 17.0%
- 18.4%
- 3.8%
- 16.1%
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Principles of Accounting
Authors: Needles, Powers, crosson
11th Edition
1439037744, 978-1133626985, 978-1439037744
