A company received an invoice for$1618 dated may 11,terms 2/15 EOM what is the last date of the discount period and last date of credit period answer with formula

last date of discount period =June 15

cash discount = $215.73

bill or amount = $1402.27

last credit date = July 5

Step-by-step explanation:

A company received an invoice for$1618 dated may 11,terms 2/15 EOM what is the last date of the discount period and last date of credit period answer with formula

a A 2/15 EOM or ending of the month means the buyer receives a  cash discount if the amount or bill is paid within a period of 15 days after the end of the month indicated May 11

EOM RESULT in the end of the discount period June 15

Total discount = 2/15 *$1618  = $215.73

Amount or bill to be paid = $1618 - $215.73 = $1402.27 on JUNE 15

last date of credit period the credit period is the period or time the buyer is given to pay the seller That is 20 days after the end of the cash discount period so the credit period last date is JULY 5

answer: finding the extract measurements and knowing the points

step-by-step explanation:

i got 10.28 but that rounds up to 10.3