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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

  1. Find the list price of a sofa that has a net cost of $285.00 with a 20/10/10 series discount.

  1. 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

Invoice Amount

Invoice Date

Terms

Date Invoice Paid

Amount of Discount

Amount Due

$2,500

Jan. 25

4/15 EOM

Feb. 13

  • 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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