Bill Norman comes to you for advice. He has just purchased a large amount of...
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Accounting
Bill Norman comes to you for advice. He has just purchased a large amount of inventory with the terms 4/15, n/45. The amount of the invoice is $333,000. He is currently short of cash but has decent credit. He can borrow the money needed to settle the account payable at an annual interest rate of 10 percent. Bill is sure he will have the necessary cash by the due date of the invoice but not by the last day of the discount period. acconting
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