Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were $4,380,000 and accounts receivable averaged $493,500. Half of Grunewald's customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewald's nondiscount customers
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Home » Business » Grunewald Industries sells on terms of 2/10, net 40. Gross sales last year were $4,380,000 and accounts receivable averaged $493,500. Half of Grunewald's customers paid on the 10th day and took discounts.