what is the net date august 29 with terms of 4/15 eom what is the discount date
To determine the discount date, we need to understand the terms given. In this case, we have a net date of August 29th and terms of "4/15 EOM."
The term "4/15" refers to a payment term where the invoice is due on the 15th day of the following month.
"EOM" stands for "End of Month," indicating that if the transaction occurs during the month, the payment will be due at the end of the following month.
Now let's calculate the discount date:
1. Start with the net date, which is August 29th.
2. Add the credit period specified in the terms, which is 15 days.
August 29 + 15 days = September 13th.
3. Determine the end of the month from the net date. In this case, it is August.
4. Add one month to this end of month date.
August + one month = September.
5. Finally, determine the last day of September, which is the discount date.
September 30th.
Therefore, the discount date for the net date of August 29th with terms of 4/15 EOM is September 30th.