Question: If the terms are 9/12 EOM, net/60 and the invoice is dated June 20 what is the last day to pay the bill without a

If the terms are 9/12 EOM, net/60 and the invoice is dated June 20 what is the last day to pay the bill without a penalty?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

I need the solution and all the journal entries for the Sage 50 transactions for Northern lights that start on page 357-364 NORTHERN LIGHTS - PAYROLL LEDGER SETUP 357 Click Apalmak to add her name....

Q:

1. An invoice dated May 15 with trade discounts of 40% and 15% hos terms of 3/10, V30. The invoice roads as follows: Quantity List Price ($) 3, dozen Clutch 35.00 each 2% dozen Balfold 30.00 each 1%...

Q:

Company Background Premier Ovens Pty Ltd has been in business in Lidcombe, NSW since July, 2016. The company was started by Scott Rose and operates a large warehouse which sells electrical and gas...

Q:

Company Background Premier Ovens Pty Ltd has been in business in Lidcombe, NSW since July, 2016. The company was started by Scott Rose and operates a large warehouse which sells electrical and gas...

Q:

INSTRUCTIONS Enter the transactions for Weeks 1 5 into the appropriate Journal for the month of June 2023. Next, post all the Journal transactions to the ledger accounts as specified in the Account...

Q:

Need help with the transaction set. Journal & ledgers ASAP OPERATING INSTRUCTIONS Introduction After you register for Seaside Marina, you will receive an email from Ivy Software containing three...

Q:

please finish spreadsheet ABC Company Unadjusted Trial Balance June 30, 20XX Cash Accounts Receivable Supplies Inventory Prepaid Insurance Prepaid Rent Prepaid Expenses Equipment Accummulated...

Q:

Instructions Throughout this course we will continue to use the Excel spreadsheet program as a tool to solve and document typical business problems related to the week's topics. We will continue to...

Q:

The company uses a periodic inventory system. UNADJUSTED TRIAL BALANCE AND CHART OF ACCOUNTS As at 31 May 2023 Acc. Account Debit ($) Credit ($) 100 Cash at Bank 5,531,652 101 Accounts Receivable...

Q:

This is for accounting. I need the answers as soon as possible to compare because my professor will not help. The transaction set and workbook is attached. OPERATING INSTRUCTIONS Introduction After...

Q:

Determine the velocity of sound in steam at 800 kPa and 350oC assuming (a) 1% variation of pressure across the wave and using the PC model, (b) steam to behave as a perfect gas. Use the PC Flow State...

Q:

A ramp 20m long slopes down 1.2m to the edge of a lake. A force of 300N is needed to pull a boat on a trailer at constant speed up the ramp when they are clear of the water. If friction is...

Q:

Ravi is tired of renting and has been thinking about buying a condo. He encountered nformation that implies requesting a pre - approval letter is the same as applying for a nortgage. He is unsure if...

Q:

By some estimates, more than half of all food aid actually displaces purchased shipments.

Q:

Ethics. A friend of a college football coach faxed the coach a description of plays from a rival teams playbook. The coachs team was scheduled to play the rival team the next week.The coach accepted...

Q:

Create a name and catchy tag line for your business. A tag line is an easy-to-remember motto or phrase that succinctly describes your service or your approach to business.

Q:

Ethics. A pharmaceutical company hides indications of a drugs dangerous side effects and delays sending a message to physicians about possible effects until six months after research documented...