Chapter 7.IV, Problem 13TIE

(a)

To determine

To calculate: The discount date and net date if date of invoice is $\text{November 18}$ and terms of sale is $3\%$ of cash discount is offered if the invoice is paid $15$ days after the end of month of the invoice.

(b)

To determine

To calculate: The discount date and net date if date of invoice is $\text{November 27}$ and terms of sale is $3\%$ of cash discount is offered if the invoice is paid $15$ days after the end of month of the invoice.