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(Answered) Short-hand expression,number of days


"Credit terms: need the short hand expression, the number of days until full payment is due, and explanation needed. Half of each answer has been completed. Please see attached.;Thanks!;** See below for complete details **;--------------;Credit terms;Purchases made on credit are due in full by the end of the billing period. Many firms extend a discount for payment made in the first part of the billing period. The original invoice contains a type of ""short-hand"" notation that explains the credit terms that apply (assume a 365 day year).;A) Write the short-hand expression of credit terms for each of the following;Cash discount Cash discount period Credit period Beginning of credit period;1% 15 days 45 days Date of invoice;2% 10 days 30 days End of month;2% 7 days 28 days Date of invoice;1% 10 days 60 days End of month;1/15 net 45 date of invoice;2/10 net 30 EOM;?? net?? date of invoice;?? net?? EOM;B) For each of the sets of credit terms in part A, calculate the number of days until full payment is due for invoices dated March 12;45 days;? days;28 days;? days;C) If the firm's cost of short-term financing is 8%, what would you recommend in regard to taking the discount or giving it up in each case?;For the first three purchases the firm would be??? to??? the funds and take the??. The annual cost of not taking the discount is?? than the firm's 8% cost of capital in the last case."
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Short-hand expression,number of days

 


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