{Chapter 7 Section Review Exercise #16) Question 46 of 51 Check My Work Using th

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{Chapter 7 Section Review Exercise #16) Question 46 of 51 Check My Work Using the EOM method, calculate the discount date and the net date for the following transactions. Unless otherwise specified, the net date is 20 days after the discount date. Invoice Terms of Sale Discount Date(s) Date of Net Date March 22 3/17, EOM April May ] Hide Feedback Partially Correct CheckMyWorkFeedback See Section IV: Cash Discounts and Terms of Sale. Check My Work 0-Icon Key Question 46 of 51 Chapter 7 Section Review Exercise #16) Save Exit Submit Assignment for Grading

Explanation / Answer

The discount date is April 17 ... that is 17 days from the end of March. 3/17 indicates that they would earn 3% discount if the invoice is paid by or before 17 days from the end of month i.e March.

The next date is 20 days after the discount date is May 7.

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