Merchandise is ordered on November 12; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on November 15; the merchandise is received by the buyer on November 17; the transaction is recorded in the buyer's accounts on November 18.The credit period begins with what date?

Question

Quizplus · Accepted Answer

The credit period begins on the date when the invoice is prepared, which is November 15. The buyer has the agreed-upon amount of time to pay the invoice starting from this date.

Merchandise Is Ordered on November 12; the Merchandise Is Shipped