+67 Using the dating method, calculate the discount date and the net date. Unless otherwise specified, the net date is 20 days after the discount date:
Do not abbreviate the names of the months.
| Date of Invoice | Terms of Sale | Discount Date | Net Date |
| April 6 | 2/10, EOM |
I got the discount date and net date wrong.
and what is eom?
+129852 I'm not a business pro...but I think this means this.....you get a 2% discount if you pay the whole thing witihin 10 days......normally, the net date would be 20 days after the discount date (May 6), but I believe the "EOM" means that you must pay the whole amount 10 days after the end of the month.....in effect, the EOM extends the "net date" by 4 days
The discount date would be April 16
The net date would be 10 days after the end of the month = May 10
I think this is correct.......
