Amorganda Store obtained P50,000 worth of merchandise from MC wholesalers based on terms of 2/10-N-30. the merchandise
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Amorganda Store obtained P50,000 worth of merchandise from MC wholesalers based on terms of 2/10-N-30. the merchandise was invoiced on March 29, 2004, the discount period will end on April 9. On April 2 Amorganda Store bank offered to give the owner an unsecured loan of P50,000 payable in 1 year at 18% per year, the interest will be paid at the end of the term. Should Amorganda Store get the loan and pay MC Wholesalers within the discount period?
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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