Homework Help: Financing

Posted by je on Wednesday, June 13, 2007 at 2:55pm.

Please..I need help asap
If a firm pays its bill with a 30 day delay, what fraction of its purchases will be in paid in the current quarter?

Please show me how you get this answer

Since a quarter is three months long, then 2/3 of the firm's purchases are paid in the quarter in which they were made.

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