If the merchandise gross is 20,300 and term is 1/15, eom,what is the payment?
If the merchandise gross is 20,300 and term is 1/15, eom,what is the payment?
Homework Answers
Ans: 1/15 EOM means 1% discount will be allowed if the payment is made within 15 days from the end of the month in which invoice is received else no discount is allowed and full payment is to be made.
in the given question, if payment is made within 15 days from the end of the month, then payment = 20,300 - (20,300*1%)
= $ 20,300 - $ 203
= $ 20,097.
if payment is made after 15 days from the end of the month, then payment = 20,300.
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If the merchandise gross is 20,300 and term is 1/15, eom,what is
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