Question

Orange co. sells merchandise on credit to zea co. in the amount of $9,000. the invoice is dated on september 15 with terms of 1/15, net 45. what is the amount of the discount, and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?

Answer 1

I guess the correct answer is $90, September 30

Orange Co. sells merchandise on credit to Zea Co. in the amount of $9,000. The invoice is dated on September 15 with terms of 1/15, net 45. The amount of the discount is $90 and the date must the invoice be paid in order for the buyer to take advantage of the discount is September 30.