RECOMMENDED!!A chain of appliance stores, APP Corporation, purchases inventory
Average Accounts payableA chain of appliance stores, APP Corporation, purchases
inventory with a net price of $500,000 each day. The company purchases the
inventory under the credit terms of 2/15, net 40. APP always takes the
discount, but takes the full 15 days to pay its bills. What is the average
accounts payable for APP?
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