What is the nominal annual cost of its non-free trade credit


Euro Tours Inc. buys on terms of 2/15, net 30 days. It does not take discounts, and it typically pays 35 days after the invoice date. Net purchases amount to $720,000 per year. What is the nominal annual cost of its non-free trade credit?

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Accounting Basics: What is the nominal annual cost of its non-free trade credit
Reference No:- TGS0707145

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