Multiple Choice
Aggarwal Inc.buys on terms of 2/10,net 30,and it always pays on the 30th day.The CFO calculates that the average amount of costly trade credit carried is $375,000.What is the firm's average accounts payable balance? Assume a 365-day year.
A) $458,160
B) $482,273
C) $507,656
D) $534,375
E) $562,500
Correct Answer:
Verified
Correct Answer:
Verified
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