Using the dating method, calculate the discount date and the net date. Unless otherwise specified, the net date is 20 days after the discount date: The date of invoice is April 6th, Terms of sale is 2/10, EOM. What is the Discount date? What is the Net date?
Imvoice dated May 5 terms 4/15, n45
april 26
To calculate the discount date and the net date using the dating method, you will need to follow these steps:
1. Start with the date of the invoice, which is April 6th.
2. Determine the terms of sale, which in this case is "2/10, EOM."
- The first number represents the discount percentage, which is 2%.
- The second number represents the number of days within which the discount can be taken, which is 10 days.
- "EOM" stands for End of Month, indicating that the discount period ends at the end of the month following the invoice date.
3. Add the number of days within which the discount can be taken to the invoice date. In this case, add 10 days to April 6th, which gives us April 16th. This is the discount date.
4. To find the net date, add the number of days after the discount date. In this case, the net date is 20 days after the discount date.
- Add 20 days to April 16th, which gives us May 6th. This is the net date.
Therefore, the discount date is April 16th, and the net date is May 6th.