Problema Solution
Ned’s Sheds purchases building materials from Timbertown Lumber for $3,700 with terms of 4/15, n/30. The invoice is dated October 17. Ned’s decides to send in a $2,000 partial payment. By what date must the partial payment be sent to take advantage of the cash discount?
considering the scenario from the previous question, if partial payment was sent by the discount date, what is the balance still due on the order?
What is the net date for the scenario in the previous question?ce is dated August 29 with terms of 4/15 EOM. What is the discount date?
Answer provided by our tutors
The term is 4/15 n/30. so, the discount period is 15 days.
hence, 15 days after 17 october is 1st november.
Hence, the money should reach by 1st November