Multiple Choice
Shanklin Inc.purchases merchandise on terms of 2/15,net 40,and its total gross purchases (i.e.,purchases before taking off the discount) are $800,000 per year.What is the maximum amount of costly trade credit Shanklin could get,assuming it abides by the supplier's credit terms? (Assume a 365-day year.)
A) $53,699
B) $56,384
C) $59,203
D) $62,163
Correct Answer:
Verified
Correct Answer:
Verified
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