Using the Dating Method, Calculate the Discount Date and the Net

question 34

Short Answer

Using the dating method, calculate the discount date and the net date. Unless otherwise specified, the net date is 20 days after the discount date: $$\begin{array} { l l l l } \text { Date of Invoice } & \text { Terms of Sale } & \text { Discount Date } & \text { Net Date } \\\text {October 15}& 3 / 15 , 3 / 20, \mathrm{ROG}\\\text { Received Nov } 25 \end{array}$$

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Definitions:

Internal Benchmarking

The process of comparing business processes and performance metrics to industry bests or best practices within the same organization.

Work Units

Small divisions or groups within an organization that focus on specific tasks or projects.

Contingency Planning

Planning that identifies alternative courses of action to take when things go wrong.

Trigger Points

Specific conditions or events that initiate a particular action, reaction, or series of events.