Multiple Choice
Phillips Glass Company buys on terms of 2/15, net 30.It does not take discounts, and it typically pays 30 days after the invoice date.Net purchases amount to $720,000 per year.On average, how much "free" trade credit does Phillips receive during the year?
A) $30,000
B) $40,000
C) $50,000
D) $60,000
E) $70,000
Correct Answer:
Verified
Correct Answer:
Verified
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