Asked by Vasilina Vorotnikova on Jun 30, 2024
Verified
An invoice dated March 15 for $400 with terms 2/10, 1/20, EOM, was received on March 20. By what date should the invoice be paid to qualify for the 2% discount?
Discount
The reduction applied to the price of goods, services, or securities, or the amount by which the market value of a bond falls below its par value.
- Interpret and apply terms of payment to ensure discounts are maximized.
Verified Answer
LV
Learning Objectives
- Interpret and apply terms of payment to ensure discounts are maximized.