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What is the net cost of the goods if flynn company pays

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Problem 1: Flynn Company purchased merchandise inventory with an invoice price of P5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period?

A) P4,500
B) P5,000
C) P4,900
D) P4,600

Problem 2: Stine Company purchased merchandise with an invoice price of P2,000 and credit terms of 2/10, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms?

A) 36%
B) 20%
C) 72%
D) 24%

Reference no: EM133007424

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