Hobbit Enterprises expects credit sales of $400 million next year. If the firm can invest funds at the rate of 10% a year, what is the value of collecting accounts payable three days earlier (use a 365-day year)?
Hobbit Enterprises expects credit sales of $400 million next year. If the firm can invest funds at the rate of 10% a year, what is the value of collecting accounts payable three days earlier (use a 365-day year)?
