You place an order for 370 units of inventory at a unit price of $140. The suppl

Question

You place an order for 370 units of inventory at a unit price of $140. The supplior offers terms of 3/10, net 90. a-1. How long do you have to pay before the account is overdue? a-2. If you take the full period, how much should you remit? (Do not round in and round your answer to the nearest whole number, o.g., 32.) b-1. What is the discount being offered? b-2. How quickly must you pay to get the discount? ber of days days If you do take the discount, how much should you remit? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b-3. ttance c-1. If you don't take the discount, how much interest are you paying implicitly? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g, 32.) Implicit interest o-2. How many days' credit are you receiving? (Do not round intermediate calculations and round Days, credit days Hints References eBook & Resources

Explanation / Answer

Units              370 Unit Price              140 Purchase price        51,800 Discount 3%           1,554 Net of Discount        50,246 Interest for 80 days           1,554 a-1 Days untill overdue 90 days a-1 Remittance $51,800 b-1 Discount being offered 3% b-2 Number of days 10 Days b-3 Remittance $50,246 b-4 Implicit Interest 1,554 C-2 Days' credit 80 days

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