Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. explain the significance of financing with account

Explain the significance of financing with accounts payable. Also, explain the rationale of taking a...

80.2K

Verified Solution

Question

Accounting

Explain the significance of financing with accounts payable. Also, explain the rationale of taking a cash discount, such as 2/10, net/30. Additionally, determine the approximate balance of accounts payable, if a company stretches its payables to 60 days and on average they make purchases of $50,000 per day from their vendors. Explain what the stretching accomplishes if the vendors should be paid in 30 days.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

) The breaking strength of plastic bags used for packaging produce is normally distributed, with a...

Statistics
Q

Consider these reactions where M represents a generic metal: 2M(s) + 6HCl(aq) ---->2MCl3(aq) + 3H2(g) Delta...

Chemistry
Q

Predict which of the following would be the most effective anti-freeze, assuming equal weight of each...

Chemistry
Q

Dr Purple however is intrigued with the notion that the only way to really study...

Biology
Q

Here yesterday s high temperatures in Fahrenheit in 14 U S cities 50 53 54...

Statistics
Q

company manufactures furniture at its Akron Ohio factory Some of its costs from the past...

Statistics
Q

13 log n 6 7 5 15 log 2 3k 4 2 17 logg x...

Algebra
Q

Requlred Information Use the following information for the Exercises below. (Algo) [The following...

Accounting
Q

Earnings per share indicates the net income earned by each share of outstanding common stock....

Accounting
Q

The bank statement for Pete Poselwait for the month of March 2021 is shown below:...

Accounting
Q

Inventory Costing: Average Cost Filimonov Inc. has the following information related to purchases and sales...

Accounting
Q

How do i write when the PI is less than 1 at 0.94? ...

Finance