A 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?© BrainMass Inc. brainmass.com October 10, 2019, 12:54 am ad1c9bdddf
The solution explains how to calculate the average accounts payable amount.