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Average accounts payable for company

A chain of appliance stores purchases inventory with a net price of $500,000 each day. The company purchases inventory under the credit terms of 2/15, net 40. The company always takes the discount, but takes the full 15 days to pay its bills. What is the average accounts payable for the company?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Average accounts payable for company

Reference No:- TGS0558905

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : What is the break-even point

Q : Calculate the cost of direct materials used

Q : What is the project-s year four cash flow

Q : Computing the company wacc

Q : Average accounts payable for company

Q : What is the project-s npv for new project

Q : Calculate the coupon rate-coupon yield

Q : Find after-tax salvage value when the machine is sold

Q : Roa and asset turnover ratio

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Solution Preview :

Prepared by a verified Expert

Finance Basics: Average accounts payable for company

Reference No:- TGS0558905

Recent Questions Asked Finance Basics

Q : What is the break-even point

Q : Calculate the cost of direct materials used

Q : What is the project-s year four cash flow

Q : Computing the company wacc

Q : Average accounts payable for company

Q : What is the project-s npv for new project

Q : Calculate the coupon rate-coupon yield

Q : Find after-tax salvage value when the machine is sold

Q : Roa and asset turnover ratio

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