Chapter 7.IV, Problem 12RE

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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 |

____________ | ____________ | |||

12. | August 11 | 3/20, n/45 |

To determine

**To calculate:** The discount date and net date if date of invoice is

Explanation

**Given Information:**

The date of invoice is

**Formula used:**

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

The formula for 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

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