Speedy Printers has the following data for its Sales and Expenses: Sales: January $50,000, February $30,000,...

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Speedy Printers has the following data for its Sales and Expenses: Sales: January $50,000, February $30,000, March $30,000, April $40,000 Terms given to customers are: 1/10 net 30. 20% will pay in the month of sale and take the discount. 70% will pay in the month following and do not get the discount. 10% will pay in the second month following and do not get the discount Purchases cost 60% of Sales and are paid in the next month following purchase. Other cash expenses are: Salary $2,000 and Rent $4,000 each month Determine the Net Cash Gain or Loss for the month of March only. Enter only numbers and decimal (do not use a S sign or comma): $ Buy Lo Stores purchases its inventory from its suppliers on terms of 2/10 net 30. As it needs cash to pay off a loan that is coming due it decides not take the discount and delay payment until the 47th day What would be the EFFECTIVE rate it pays by delaying its payment? Enter only numbers and decimal (do not use % sign) Speedy Printers has the following data for its Sales and Expenses: Sales: January $50,000, February $30,000, March $30,000, April $40,000 Terms given to customers are: 1/10 net 30. 20% will pay in the month of sale and take the discount. 70% will pay in the month following and do not get the discount. 10% will pay in the second month following and do not get the discount Purchases cost 60% of Sales and are paid in the next month following purchase. Other cash expenses are: Salary $2,000 and Rent $4,000 each month Determine the Net Cash Gain or Loss for the month of March only. Enter only numbers and decimal (do not use a S sign or comma): $ Buy Lo Stores purchases its inventory from its suppliers on terms of 2/10 net 30. As it needs cash to pay off a loan that is coming due it decides not take the discount and delay payment until the 47th day What would be the EFFECTIVE rate it pays by delaying its payment? Enter only numbers and decimal (do not use % sign)

Answer rating: 100% (QA)

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