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How much non-free trade credit does the firm use on average

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Reference no: EM132741477

Problem 1: A firm buys on terms of 2/10, net 30, but generally does not pay until 40 days after the invoice date. It purchases total P1,080,000 per year. How much "non-free" trade credit does the firm use on average each year?

a. 60,000
b. 90,000
c. 30,000
d. 120,000

Reference no: EM132741477

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