Grunewald industries sells on terms of 110 net 30 gross


Grunewald Industries sells on terms of 1/10, net 30. Gross sales last year were $4,171,500, and accounts receivable averaged $438,000. Half of Grunewald's customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewald's nondiscount customers?

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Financial Management: Grunewald industries sells on terms of 110 net 30 gross
Reference No:- TGS01400686

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