Invoice Date	As of	Terms	Final Discount Date	Net Payment Date
June 30	July 10	3/15, n/60

Invoice Date	Terms	Final Discount Date	Net Payment Date
July 31	2/15, net 20

Invoice Date	Terms	Final Discount Date	Net Payment Date
Apr. 12	3/10, net 30

Find the final discount date and the net payment date.

Invoice Date As of Terms Final Discount Date Net Payment Date

Nov. 7 Nov. 18 3/10, n/40

Invoice Date	As of	Terms	Final Discount Date	Net Payment Date
Nov. 7	Nov. 18	3/10, n/40

Solution

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\begin{align*} &\textit{ Final}\quad\quad &&\textit{ Net}\\ &\textit{Discount Date}\quad\quad &&\textit{Payment Date}\\ &\text{Nov 28}\quad\quad &&\text{Dec 28} \end{align*}

$3/10$ means that a $3\%$ discount is applied if the invoice is paid within $10$ days of the AS OF date, which means until Nov 18+10=Nov 28, so the Final Discount Date is $\textcolor{#4257b2}{\textbf{Nov 28}}$ .

$n/40$ means that if no payment is made within $10$ days of the AS OF date, then the full invoice amount must be paid within $40$ days of the AS OF date, which means after $30-18=12$ days of November and another $40-12=28$ days of December, so the Final Discount Date is $\textcolor{#4257b2}{\textbf{Dec 28}}$ .

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Find the final discount date and the net payment date.

Invoice Date As of Terms Final Discount Date Net Payment Date

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Find the final discount date and the net payment date. Invoice Date As of Terms Final Discount Date Net Payment Date Nov. 7 Nov. 18 3/10, n/40

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More related questions

Find the final discount date and the net payment date.

Invoice Date As of Terms Final Discount Date Net Payment Date

Nov. 7 Nov. 18 3/10, n/40