I don't know the answer . That's why I'm looking for someone to help me answer my question which is : An invoice is dated Aug 29 with terms of 4/15 E.O.M. What is the discount date and the net date ?

To determine the discount date and net date based on the given terms (4/15 E.O.M), you need to understand what each component means.

1. E.O.M: This term stands for "end of month." It means that the discount and net dates are calculated based on the last day of the month in which the invoice is dated. In this case, you need to consider the end of August.

2. 4/15: This term refers to a cash discount percentage and the payment deadline. The discount percentage signifies the percentage of the invoice amount that can be deducted if the payment is made within the specified timeframe. The payment deadline states the number of days from the invoice date by which payment must be made to qualify for the discount.

Now, let's calculate the discount date and net date step by step:

Step 1: Determine the end of the month
Since the invoice is dated Aug 29 with E.O.M terms, the end of the month is August 31st.

Step 2: Calculate the discount date
To find the discount date, add the number of days specified in the payment deadline (4 days) to the end of the month. In this case, August 31st + 4 days = September 4th.

So, the discount date is September 4th.

Step 3: Calculate the net date
The net date is the deadline for the payment without any discount. Since the payment deadline is 15 days, you need to add 15 days to the end of the month. In this case, August 31st + 15 days = September 15th.

So, the net date is September 15th.

Therefore, for an invoice dated August 29th with terms of 4/15 E.O.M, the discount date is September 4th, and the net date is September 15th.