A sale on June 21 with terms of n/10 eom is due to be collected by
A) June 30.
B) July 31.
C) July 10.
D) July 21.

Question

Quizplus · Accepted Answer

The term "n/10 eom" means that if the invoice is paid within n days, the buyer will receive a 10% discount. EOM stands for end of month, which means that the discount period ends at the end of the month in which the invoice was issued. 
In this case, the sale was made on June 21, so the end of the month (EOM) is June 30. Therefore, the discount period ends on June 30 and the payment is due by July 10 (n days after June 30). Hence, the best choice is C.

A Sale on June 21 with Terms of N/10 Eom