Arnold Inc

question 125

Multiple Choice

Arnold Inc.purchases merchandise on terms of 2/10 net 30, and it always pays on the 30th day.The CFO calculates that the average amount of costly trade credit carried is $375,000.What is the firm's average accounts payable balance? (Assume a 365-day year.)

• A) $458,160
• B) $482,273
• C) $507,656
• D) $534,375
• E) $562,500

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