Problema Solution
an invoice for a camcorder that cost $1220 is dated august 1, with sales term of 4/10 EOM. if the bill is paid on september 8, how much is due?
Answer provided by our tutors
Date of invoice: August 1
Day 1 of the discount period: September 1
Last day of the discount period: September 10
Date of payment: September 10
Since the bill was paid on September 8th (before September 10th) the amount due is:
0.96*1220 = $1171.2.