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 - With LMS CengageNOW

8th Edition

ISBN: 9781337125468

Author: Brechner

Publisher: Cengage

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 7.IV, Problem 11RE

Chapter 7.IV, Problem 13RE

Students have asked these similar questions

7.1. If X has an exponential distribution with the parameter 0, use the distribution function technique to find the probability density of the random variable Y = ln X. bilaga in dwreat

No chatgpt pls will upvote

2 Q/ Let d₂ +d, di, d2: R² XR² R² defined as follow ((x+x), (2, 1) = √(x-2)² + (x_wx • d₁ ((x,y), (z, w)) = max {1x-z\, \y-w\} • 1 1 dq ((x,y), (Z, W)) = \ x=2\+\-w| 2 • show that dod₁, d₂ are equivalent? 2

Chapter 7 Solutions

Contemporary Mathematics for Business & Consumers - With LMS CengageNOW

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

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

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.

Concept explainers

Videos

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.

Want to see the full answer?

Chapter 7 Solutions