A sofa is sold for OMR 400 dated October 5th, and terms of payment on ordinary dating 3/15, n/30 have been received. The bill is paid on October 19th. Which of the following is the end date of cash discount period? a. October 15th b. October 20th c. October 14th d. October 19th

A sofa is sold for OMR 400 dated October 5th, and terms of payment on ordinary dating 3/15, n/30 have been received. The bill is paid on October 19th. Which of the following is the end date of cash discount period? a. October 15th b. October 20th c. October 14th d. October 19th

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 2Q

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Question

A sofa is sold for OMR 400 dated October 5th,
and terms of payment on ordinary dating 3/15,
n/30 have been received. The bill is paid on
October 19th. Which of the following is the end
date of cash discount period?
a. October 15th
b. October 20th
c. October 14th
d. October 19th

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