EOM Dating:Be sure to pay attention to the days (discount & net) within the terms.When entering dates, state as: Month Day (e.g., January 1). Do NOTabbreviate the month.15. The Auburn Gift Shop received an invoice with terms of 4/20 EOM, net 60.The invoice amount was $5,000 and was dated June 20A. What is the last day to take advantage of the cash discount?B. When is the net amount due?

A. With terms of 4/20 EOM, net 60, the discount period starts from the end of the month in which the…

Answered: EOM Dating: Be sure to pay attention to…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The terms of an invoice are 3/10, n/30 E.O.M. The invoice date is April 10. The last date on which the discount can be taken is: Select one: O a. April 30 O b. April 20 O c. May 30 O d. May 10
An invoice is dated June 17 with terms 3/10-50 ex. Find the final discount date and the net payment date. The net payment date is 20 days after the final discount date. The final discount date is
An invoice for $5313 is dated May 12 and offers terms of 2/20-40x. If the invoice is paid on July 16, when is the net payment date? Please answer very soon
Same Day Surgery Center received a 120-day, 7% note for $96,000, dated April 9 from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note.$ c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank. Aug. 7
An invoice dated November 25 for $2600 had the terms 3/15, 1.5/30, n/45 E.O.M. What is the last day for taking the 1.5% discount? O A. December 30 O B. December 15 O c. December 10 O D. December 25
The invoice date for a bill is September 15 with the terms 2/15, n/40. The discount date and due date are A.September 30 and October 25 b.September 30 and December 9 c.September 17 and October 25 d. October 2 and October 25
An invoice is dated March 22 with terms of 4/18 EOM. Assuming the net date is 20 days after the discount date, find the following. (a) What is the discount date? ---Select--- (b) What is the net date? ---Select---
This question is for business math. Complete the following (If more than one discount, assume date of last discount) (Assuming February will have 28 days.) Invoice: Terms: Last day of discount period: August 10th 2/10, 1/30, n/60 Final day bill is due: I need the last day of discount period and the final day the bill is due but I dont know how to figure it out. Please explain this to me. I also dont know where the n/60 comes from, can you explain that when you explain how to do the problem?
As a buyer for the J&J company, you receive an invoice with terms 3/10, EOM, net 60. The invoice amount was $7,800.00 and was dated APR. 28. When is the last day the buyer still can get the cash discount? When is the net payment due? If the invoice was paid on June 9, what would be the cash discount amount? (in $) If the invoice was paid on July 10, what would be the net amount due? (in $)
A customer opens a certificate of deposit of $909,642. The current CD-rate is 9% and the CD duration is 162 days. What is the amount due to the customer at expiration of the CD? Round your answer to the nearest two decimals if needed. Do not type the $ symbol.
Salim gets an invoice dated September 14th and the good arrives on October 7th. Find the last day he can get the discount if the terms read: 2/10 n/30 ROG. a.October 10 b.September 30 c.September 24 d.October 17
Lazy Days Laundry receives an invoice for detergent. The invoice is dated April 9 with terms of 3/15, n/30. a) What is the discount date? b) What is the net date? c) If the terms are changed to 3/15 EOM, what is the new discount date? d) What is the new date?

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