When is the latest date the order can be paid by ? 15. The bra buyer received a reorder of 600 bras that totaled $6,300 at cost.The invoice was received on May 10 with terms of 8/40 DOI. What is thedate that this order needs to be paid by? What will be the total cost paidby that date?

Answered: 15. The bra buyer received a reorder of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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When is the latest date the order can be paid by ?

15. The bra buyer received a reorder of 600 bras that totaled $6,300 at cost.
The invoice was received on May 10 with terms of 8/40 DOI. What is the
date that this order needs to be paid by? What will be the total cost paid
by that date?

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Introduction

To increase sales revenue every seller uses credit terms policy which provides additional benefit to buyer to make less payment than the original cost, it also benefit seller as he or she receives payment in short period of time and also helps to make bulk sales orders.

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