Question

Please help meeeeeee

On September 22, Illuminations Lighting Center sold $6,400 in merchandise on account to Sunshine Builders, a charge customer. A 5% sales tax applied to the sale. The date of the sales slip was September 22, and the credit terms were 2/10, n/30. What is the last day Sunshine Builders can pay the invoice and still receive a discount?

Answer 1

1st of October is the last day discount would be given if payment is received

Explanation:

2/10 means that a discount rate of 2% would given to the buyer if he or she pays within next in ten days otherwise full amount is expected in 30 days i.e n/30.

The discount would be available if payment is made between September 22 and October 1st

In essence,the last day Sunshine Builders can pay the invoice and still receive a discount is 1st October