Explanation Given Information: The date of invoice is August 11 , terms of sale is 3 % of cash discount is offered if the invoice is paid within 20 days and n of cash discount is offered if the invoice is paid within 45 days. Formula used: The formula for discount date is computed by adding the number of days in the discount period to the date of invoice. The formula for net date is computed by adding the number of days in the credit period to the invoice date. Calculation: Consider that the date of invoice is August 11 , terms of sale is 3 % of cash discount is offered if the invoice is paid within 20 days and n of cash discount is offered if the invoice is paid within 45 days

Contemporary Mathematics for Business & Consumers

8th Edition

ISBN: 9781305585447

Author: Robert Brechner, Geroge Bergeman

Publisher: Cengage Learning

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Chapter 7.IV, Problem 12RE

To determine

To calculate: The discount date and net date if date of invoice is August 11, terms of sale is 3% of cash discount is offered if the invoice is paid within 20 days and n of cash discount is offered if the invoice is paid within 45 days.

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Chapter 7.IV, Problem 11RE

Chapter 7.IV, Problem 13RE

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Chapter 7 Solutions

Contemporary Mathematics for Business & Consumers

Ch. 7.I - From the following FotoFair invoice, identify the...Ch. 7.I - Prob. 2TIE Ch. 7.I - What word is represented by each of the following...Ch. 7.I - Prob. 2RE Ch. 7.I - What word is represented by each of the following...Ch. 7.I - Prob. 4RE Ch. 7.I - Prob. 5RE Ch. 7.I - Prob. 6RE Ch. 7.I - Prob. 7RE Ch. 7.I - Prob. 8RE

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The discount date and net date if date of invoice is August 11 , terms of sale is 3 % of cash discount is offered if the invoice is paid within 20 days and n of cash discount is offered if the invoice is paid within 45 days.

Solution Summary: The author calculates the discount date and net date by adding the number of days in the credit period to the invoice date.

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To calculate: The discount date and net date if date of invoice is August 11, terms of sale is 3% of cash discount is offered if the invoice is paid within 20 days and n of cash discount is offered if the invoice is paid within 45 days.

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Chapter 7 Solutions