Termsus 1/10n/30what is last say oder discount periodandfinal day bill is dueshow steps

Answer 1

The discount terms 1/10n/30 means that the buyer can take a 1% discount if payment is made within 10 days, otherwise the full amount is due within 30 days.

To determine the last day of the discount period, you would add 10 days to the invoice date. For example, if the invoice is dated February 1st, the last day of the discount period would be February 11th.

To determine the final day the bill is due, you would add 30 days to the invoice date. Using the same example, if the invoice is dated February 1st, the bill would be due on March 3rd.

Here are the steps to calculate the last day of the discount period and the final day the bill is due:

1. Write down the invoice date.
2. Add 10 days to the invoice date to find the last day of the discount period.
3. Add 30 days to the invoice date to find the final day the bill is due.