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25 April, 21:16

A chain of appliance stores, APP Corporation, purchases inventory with a net price of $600,000 each day. The company purchases the inventory under the credit terms of 2/15, net 30. APP always takes the discount but takes the full 15 days to pay its bills. What is the average accounts payable for APP

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  1. 26 April, 00:39
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    Explanation: Here we are to calculate the average amount payable by APP Corporation.

    Average accounts payable = net inventory per day x days in discount

    Average accounts payable

    = $600,000 x 15

    = $9,000,000
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