Fairview Clinic buys $600,000 in medical supplies each year (at gross prices) from its major supplier, Consolidated Supplies, which offers the clinic terms of 4/10, net 30. What is Fairview Clinics's costly trade credit? A. $32,000 B. $48,000 C. $40,000 D. $25,000 E. $27,000
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- What is Fairview clinic's costly trade credit?H4. Resolute Health buys $600,000 of a particular item (at gross prices) from its major supplier, Cardinal Health, which offers Resolute terms of 2/10, net 30. Currently, the hospital is paying the supplier the full amount due on Day 30, but it is considering taking the discount, paying on Day 10 and replacing the trade credit with a bank loan that has a 12 percent rate. Assume 360 days per year. What is the amount of free trade credit that the organization obtains from Cardinal Health? Format is $xx,xxx.xx What is the total amount of trade credit offered by Cardinal? Format is $xx,xxx.xx What is the approximate annual cost of the costly trade credit? Format is xx.xx% Should the organization replace a portion of the trade credit with the bank loan? Format is Yes or No If the bank loan is used, how much of the trade credit should be replaced? Format is $xx,xxx.xxGive me answer this general accounting question
- Provide correct answerCrazy Cliff’s Computers (CCC) purchases computer parts from its suppliers 2/5, net 30. What is the effective annual cost of not taking the trade discount? Select one: a. 2.00% b. 2.04% c. 27.43% d. 34.31% e. None of the above.10. SM Supermarket purchases P4,562,500 in goods over a 1-year period from its sole supplier. The supplier offers trade credit under the following terms: 2/15, net 50 days. If Hayes chooses to pay on time but not to take the discount, what is the average level of the firm's accounts payable, and what is the effective annual cost of its trade credit? (Assume a 365-day year.) A. P208,333; 17.81% D. P416,667; 27.43% B. P416,667; 17.54% E. P625,000; 23.45% C. P625,000; 17.54% 11. Mr. Jones borrows P2,000 for 90 days and pays P35 interest. What is his effective rate of interest? A. 7.0% C. 11.7% D. none of these B. 9.3% 12. Ms. Smith borrowed P125,000 at 11% stated rate of interest and was to pay back the loan in 24 monthly payments. What is her effective rate of interest? A. 10.56% C. 21.12% В. 18.96% D. 22.00%
- What is the effective annual percentage cost of its non-free trade credit?Hello tutor give correct answerRangling Company, buys goods from A.J. Stop Company that gives sales terms of 2.5/10, net 30 days. Rangling has annual gross purchases of $1,000,000. Calculate the maximum amount of costly trade credit that Rangling could get, assuming it abides by the A.J.’s credit terms? (Assume a 365-day year.)
- Your firm just purchased $11,000 goods from your supplier on trade credit terms of 2/10 net 40. Your opportunity cost of funds is 9%. Find NPV of invoice if you paid on day 10 Find the minimum discount (d) that would motivate the buyer to pay early8. Sasakyani Company sells to retail auto supply stores on credit terms of 2/10, n/30. Annual credit sales are P300 million and its accounts average 25 days overdue. Determine Sasakkyani's average collection period. Assume 360 days in a year. a. 30 days b. 45 days c. 50 days answer not given 9. Browny sells to retail appliance stores on credit terms of net 30. Annual credit sales is P27.000,000 spread evenly throughout the year and its accounts average 20 days overdue. The firm's variable cost ratio is 0.70. Determine Browny's average investment in receivables. Assume 360 days in a year. a. P1,500,000 b. P2,250,000 c. P 3,750,000 d. cannot be determined from the information provided 10. Marca Leon is planning to change its credit policy. The proposed change is expected to shorten the collection period from 50 days to 30 days, increase the ratio of cash sales to total sales from 20% to 30%, and irallos decrease total sales by 10%. If projected sales for the coming year is P40,000,000,…choose the letter of the correct answer Log Company’s credit sales are P300,000, and the collection period is 90 days. Cost is 70 percent of selling price. Determine Log's average investment in accounts receivable. a. P32,500.00b. P42,500.00c. P52,500.00d. P62,500.00e. P72,500.00