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) $223,333
B) $374,951
C) $457,443
D) $562,500
Correct Answer:
Verified
Correct Answer:
Verified
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