On a 365-day basis, if payment is made on the twentieth day under trade creditterms of 2/10, net 30. How many days is the effective borrowed fund? *O 20 daysO 30 daysO 50 daysO 5 daysO 10 days

Trade credit: Trade credit refers to the business to business agreement through which a customer can…

Answered: On a 365-day basis, if payment is made…

On a 365-day basis, if payment is made on the twentieth day under trade cred terms of 2/10, net 30. How many days is the effective borrowed fund? * O 20 days O 30 days O 50 days O 5 days O 10 days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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On a 365-day basis, if payment is made on the twentieth day under trade credit
terms of 2/10, net 30. How many days is the effective borrowed fund? *
O 20 days
O 30 days
O 50 days
O 5 days
O 10 days

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