Find the final discount date and the net payment date.
-Invoice date: Jan 12
As of: Jan 22
Terms:
A)Final discount: Feb 6 Payment due: Feb 21
B)Final discount: Feb 21 Payment due: Feb 6
C)Final discount: Jan 27 Payment due: Feb 11
D)Final discount: Feb 5 Payment due: Feb 20

Question

Find the final discount date and the net payment date.
-Invoice date: Jan 12
As of: Jan 22
Terms: 
A)Final discount: Feb 6 Payment due: Feb 21 
B)Final discount: Feb 21 Payment due: Feb 6 
C)Final discount: Jan 27 Payment due: Feb 11 
D)Final discount: Feb 5 Payment due: Feb 20

Quizplus · Accepted Answer

To find the final discount date, we need to count the number of days from the invoice date (Jan 12) to the end of the discount period (11 days or Jan 23), and then add another 14 days for the net payment period. So the final discount date is Feb 6 (Jan 23 + 14 days). The payment due date is 10 days after the final discount date, so it is Feb 21. The terms "11ebb7d6_6d92_979e_ad4c_4d8ec57b1891_TB8285_11" are not understandable, but typically invoice terms include a discount period and a net payment period. In this case, the final discount date is Feb 6, meaning that the buyer can take advantage of a discount if they pay before that date. The net payment date is Feb 21, meaning that the buyer must pay by that date at the latest in order to avoid late fees or penalties. Option A is the only choice that includes those dates, so it is the correct answer.

Find the Final Discount Date and the Net Payment Date