Spare Parts, Inc. has purchased 2.479.000 from its supplier. The supplier will be willing to grant a
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Spare Parts, Inc. has purchased €2.479.000 from its supplier. The supplier will be willing to grant a 1,20% discount provided Spare Parts, Inc. pays the full invoice within 10 days. The invoice will come due 60 days past. If the company waives the discount, what will the cost of such a loan be, on an annual basis? Use 360 days per year as the basis for the computation.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton
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