Maroon Company received an invoice for $242,000 dated November 26th with payment terms 4/5, 3/20, n/45 EOM.

a) What is the last day for taking advantage of the 4% discount? 

b) If a partial payment, in the amount of $150,000.00 is made on that day from (a), determine the amount that will credited to the account

Answer rating: 100% (QA)

a it 5th day after receipt of the invoice and thus it 5 days a... View the full answer