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

8th Edition

ISBN: 9781305888715

Author: Brechner

Publisher: CENGAGE LEARNING - CONSIGNMENT

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Chapter 7.IV, Problem 12RE

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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.IV, Problem 11RE

Chapter 7.IV, Problem 13RE

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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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