Stan’s Market recorded the following events involving a recent purchase of inventory:
- Received goods for $120,000, terms 2/10, n/30.
- Returned $2,400 of the shipment for credit.
- Paid $600 freight on the shipment.
- Paid the invoice within the discount period.

As a result of these events, the company’s inventory:
a. increased by $115,848.
b. increased by $115,248.
c. increased by $118,200.
d. increased by $115,836.

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

In most states, a licensee must provide a(n) of any existing agency relationships to all parties

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances