FINANCE 510 – Greshak Corp. purchases merchandise on terms of 2/10 net 30

FINANCE 510 – Greshak Corp. purchases merchandise on terms of 2/10 net 30

Greshak Corp. purchases merchandise on terms of 2/10 net 30, and it always pays on the 30th day. The CFO calculates that the average amount of costly trade credit carried is $375,000. What is the firm’s average accounts payable balance? (Assume a 365-day year.)Select one:a. $458,160b. $482,273c. $507,656d. $534,375e. $562,500


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