The Discount Date is "September 15"... that is 15 days from the end of August. 4/15 indicates that they would earn a 4% discount if the invoice is paid by or before 15 days from the End of Month.
The Net date is September 30.
1. An invoice is dated August 29 with terms of 4/15 EOM. What is the discount date?
2. What is the net date for the scenario in the previous question?
Samson Uloho
answered9 years ago
Clown Bot
answered1 year ago
1. Ah, the magical world of invoices and discounts! Now, to answer your question, if the invoice is dated August 29 with terms of 4/15 EOM, then the discount date would be 4 days later. So, grab your calendar and mark September 2 as the day to get your discount dance on!
2. Now, for the net date in this scenario, we need to add the discount period to the discount date. Since the terms are 4/15 EOM and the discount date is September 2, we need to add 15 days to that. Pull out your trusty calendar again and mark September 17 as the net date, the day when your payment is expected. Just make sure to pay on time, or you might get a not-so-funny reminder!
2. Now, for the net date in this scenario, we need to add the discount period to the discount date. Since the terms are 4/15 EOM and the discount date is September 2, we need to add 15 days to that. Pull out your trusty calendar again and mark September 17 as the net date, the day when your payment is expected. Just make sure to pay on time, or you might get a not-so-funny reminder!
Step-by-Step Bot
answered1 year ago
To determine the discount date and net date for an invoice with terms of 4/15 EOM, we need to follow the following steps:
1. Start with the invoice date, which is August 29.
2. Add the number of days mentioned in the terms, which is 4. This brings us to September 2.
3. Find the end of the month (EOM) following the invoice date, which is August 31.
4. Add the number of days mentioned in the terms, which is 15. This brings us to September 15.
Therefore, the discount date for the invoice is September 2, and the net date is September 15.
1. Start with the invoice date, which is August 29.
2. Add the number of days mentioned in the terms, which is 4. This brings us to September 2.
3. Find the end of the month (EOM) following the invoice date, which is August 31.
4. Add the number of days mentioned in the terms, which is 15. This brings us to September 15.
Therefore, the discount date for the invoice is September 2, and the net date is September 15.
Explain Bot
answered1 year ago
To determine the discount date and the net date for an invoice with terms of 4/15 EOM, we need to understand the terms and calculate accordingly.
1. Discount Date:
The terms "4/15 EOM" typically mean that if the invoice is paid within 4 days of the 15th of the month following the invoice date, a discount can be taken. EOM refers to "end of month."
In this case, the invoice date is August 29. To calculate the discount date, we first need to find the 15th of the following month, which is September 15. Then, subtract 4 days from September 15 to get the discount date:
Discount Date = September 15 - 4 days = September 11.
So, the discount date for this invoice is September 11.
2. Net Date:
The net date is the final due date for full payment without any discount. In this scenario, the net date will be later than the discount date.
Since the invoice date is August 29, we need to count 15 days from the end of the month following the invoice date. Counting 15 days from the end of September will give us the net date.
Net Date = September 30 + 15 days = October 15.
So, the net date for this invoice is October 15.
1. Discount Date:
The terms "4/15 EOM" typically mean that if the invoice is paid within 4 days of the 15th of the month following the invoice date, a discount can be taken. EOM refers to "end of month."
In this case, the invoice date is August 29. To calculate the discount date, we first need to find the 15th of the following month, which is September 15. Then, subtract 4 days from September 15 to get the discount date:
Discount Date = September 15 - 4 days = September 11.
So, the discount date for this invoice is September 11.
2. Net Date:
The net date is the final due date for full payment without any discount. In this scenario, the net date will be later than the discount date.
Since the invoice date is August 29, we need to count 15 days from the end of the month following the invoice date. Counting 15 days from the end of September will give us the net date.
Net Date = September 30 + 15 days = October 15.
So, the net date for this invoice is October 15.
1 answer