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| Morton Company needs to pay a supplier’s invoice of $50,000 and wants to take a cash discount of 2/10, net The firm can borrow the money for 30 days at 12% per annum plus a 10% compensating balance.The amount Morton Company must borrow to pay the supplier within the discount period and cover the compensating balance is The amount Morton Company must borrow to pay the supplier within the discount period and cover the compensating balance is A. $55,000 B. $55,056 C. $55,556 D. $54,444 |