Merchandise is ordered on November 10; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on November 13; the merchandise is received by the buyer on November 18; the entry is made in the buyer's accounts on November 20. The credit period begins with what date?

Question

Quizplus · Accepted Answer

The credit period begins with the invoice date, which is November 13 in this case.

Merchandise Is Ordered on November 10; the Merchandise Is Shipped