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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Using the EOM, ROG, and Extra dating methods, calculate the discount date and the net date for the following transactions. Unless otherwise specified, the net date is 20 days after the discount date.

Date of Invoice Terms of Sale Discount Date Net Date
18. February 11 2/10, 60 Extra

To determine

To calculate: The discount date and net date if date of invoice is February 11 and the terms of sale is 2/10,60Extra.

Explanation

Given Information:

The date of invoice is February 11 and the terms of sale is 2/10,60Extra.

Calculation:

Consider that the date of invoice is February 11 and the term of sale is 2/10,60Extra.

The terms of sale 2/10,60Extra gives the retailer 70 days(10+60) after the date of invoice.

The discount date is computed through Extra Dating means that extra date will be added to cash discount date

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