Classic Furniture purchases dining room sets with an invoice date of September 27, and terms of sale of 3/10, n/60. What is the net date?

Question

Quizplus · Accepted Answer

The net date is calculated by adding the net period to the invoice date. With terms of 3/10, n/60, the discount period is 10 days, but the net period (the full payment period without taking the discount) is 60 days. Adding 60 days to September 27 results in November 26.

Classic Furniture Purchases Dining Room Sets with an Invoice Date