Question
Finney & Company purchased $1,800 of merchandise on 5/6. The terms were 2/15 EOM. The sneakers were received on 5/20, sent FOB Shipping Point. Freight charges amounted to $45.
a. What is the discount date?
b. What payment must be made by that date to take advantage of the discount?
a. What is the discount date?
b. What payment must be made by that date to take advantage of the discount?
Answers
Ferdinand Baga
a. 6/4
b. $36
b. $36