Kearns, Inc. sells its goods with terms of 3/15 EOM, net 60. What is the implicit cost of the trade credit? Do not round your intermediate calculations, and round your final answer to the nearest whole percent.
A) 15%
B) 45%
C) 34%
D) 28%

Question

Quizplus · Accepted Answer

The Answer of Kearns, Inc. sells its goods with terms of 3/15 EOM, net 60. What is the implicit cost of the trade credit? Do not round your intermediate calculations, and round your final answer to the nearest whole percent.
A) 15%
B) 45%
C) 34%
D) 28%