"Free" trade credit firm receive during the year.
Filbeck Company buys on terms of 2/15, net 30 days. It does not take discounts, and it typically pays 30 days after the invoice date. Net purchases amount to $500,000 per year. On average, how much "free" trade credit does the firm receive during the year? (Assume a 365-day year.)
a) $20,548
b) $21,575
c) $22,654
d) $23,787
e) $24,976