Question

You are the bookkeeper for your company and you receive an invoice with the following terms of payment: November 25th, 4/10, net/60. What is the last day you can make the payment and still receive the discount

Answer 1

Answer:

January 24

Explanation:

As its indicated by the trade credit which specify the the net amount is expected to be paid in full by the buyer within net/60 (i.e 60 days).

This is the phrase on an invoice or in a contract that refers to how long a customer has to pay for goods or services after the bill is received, of which there is a discount of 4% (4/10) offered by the supplier if the buyer pays within the 60 days.