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Find the list price of a sofa that has a net cost of $285.00 with a 20/10/10 series discount. Determine the final discount date and
- Find the list price of a sofa that has a net cost of $285.00 with a 20/10/10 series discount.
- Determine the final discount date and net payment date for the following table:
Invoice date | Terms | Date Goods Received | Final Discount Date | Net Payment Date |
May 14 | 3/20 ROG | June 2 |
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Invoice Amount | Invoice Date | Terms | Date Invoice Paid | Amount of Discount | Amount Due |
$2,500 | Jan. 25 | 4/15 EOM | Feb. 13 |
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- Remember that the net payment date is always 20 days after the net payment date.
- If the day on the invoice date is greater than 25, then you must use the month after the following month.
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