Question
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?
2. What is the net date for the scenario in the previous question?
Answers
Samson Uloho
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.
The Net date is September 30.