Question

The net price of goods from Ricardo’s Pet Supply to Jack’s Aquarium is $598. The terms are 5/10 EOM. The date of the invoice is March 11th. What is the last day to pay the invoice in full?

March 18
April 30
May 1
March 30

Answer 1

I believe it is may first.

Answer 2

Option D. March 30

Explanation:

The net price of goods from Ricardo's pet supply to Jack's aquarium is $598.

The terms are 5/10 EOM, which indicates 5% discount for the payment within 10 days or full amount to be paid at the end of the month (EOM).

The date of the invoice is March 11th.

Therefore, the last day to pay the invoice in full is March 30.

Option D. March 30 would be the answer.