FI515 Financial Management:  16-5 A chain of appliance stores, APP Corporation

FI515 Financial Management: 16-5 A chain of appliance stores, APP Corporation

FI515 Financial Management
Week 7 Homework

16-5 Accounts Payable
A chain of appliance stores, APP Corporation, purchases inventory with a net price of $500,000 each day. The company purchases the inventory under the credit terms of 2/15, net 40. APP always takes the discount but takes the full 15 days to pay its bills. What is the average accounts payable for APP?
FI515 Financial Management: 16-5 A chain of appliance stores, APP Corporation
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