Suppose CumChan Inc

question 66

Essay

Suppose CumChan Inc.sells goods on terms 2/10 net 20.On January 1 you would buy goods from CumChan with invoice value of $40,000.How much would you need to pay if you took the cash discount? What is the latest date on which the cash discount is available? By what date should you pay for your purchase if you decide not to take the cash discount?

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