Question

If total amount of order =P87,821.75

Start of selling season- November 15, 2010
Date of order- September 15, 2010
Date of invoice- September 29, 2010
Date of shipment- October 28, 2010 Date of arrival-
November 2, 2010
Determine respective amount of discount, amount payable and maturity date for the following datings:
a. 12/6 Receipt of Goods, net 55 days
b. 10/8 Receipt of goods
c. 8/10 End of the month dating
d. 6/12 indirect dating
e. 5/10 season dating

Answer 1

The respective maturity dates and amounts payable for different dating options are provided. The discount terms are needed to calculate the discount amount.

Step-by-step explanation:

For the respective dating options:

1. a. For net 55 days, the maturity date would be December 30, 2010. The amount payable would be the total amount of the order minus the discount. To calculate the discount, we need to know the discount terms.
2. b. For 10/8 receipt of goods, the maturity date would be October 18, 2010. Again, the amount payable would be the total amount of the order minus the discount.
3. c. For end of the month dating, the maturity date would depend on the month mentioned. If it is September, the maturity date would be September 30, 2010. If it is October, the maturity date would be October 31, 2010. And so on.
4. d. For indirect dating of 6/12, the maturity date would be December 21, 2010. The amount payable would be the total amount of the order minus the discount.
5. e. For season dating of 5/10, the maturity date would be November 5, 2010. The amount payable would be the total amount of the order minus the discount.