Chapter 7.IV, Problem 10RE

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8th Edition

Robert Brechner + 1 other

ISBN: 9781305585447

Textbook Problem

Using the ordinary dating method, calculate the discount date and the net date for the following transactions.

Date of Invoice |
Terms of Sale |
Discount Date(s) |
Net Date |
|||||

10. | November 4 | 2/10, n/45 | Nov. 14 |
Dec. 19 |

To determine

**To calculate:** The discount date and net date if date of invoice is November *n* of cash discount is offered if the invoice is paid within

Explanation

**Given Information:**

The date of invoice is *n* of cash discount is offered if the invoice is paid within

**Formula used:**

The discount date is computed by adding the number of days in the discount period to the date of invoice.

The net date is computed by adding the number of days in the credit period to the invoice date.

**Calculation:**

Consider that the date of invoice is November *n* of cash discount is offered if the invoice is paid within

Compute the discount date by adding

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