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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?

1 answer

a. 6/4
b. $36

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