Explain the significance of financing with accounts payable. Also, explain the rationale of taking a cash discount, such as 3/15, net/45.

Explain the significance of financing with accounts payable. Also, explain the rationale of taking a cash discount, such as 3/15, net/45. Additionally, determine the approximate balance of accounts payable, if a company stretches its payables to 55 days and on average, they make purchases of $200,000 per day from their vendors.

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