Find the Discount Date and Net Payment Date

question 31

Multiple Choice

Find the discount date and net payment date. (The net payment date is 20 days after the final discount date.)
-Invoice date: Aug 8
Terms:
Goods received: Oct 10

• A)Discount date: Sept 15; net payment date: Oct 15
• B)Discount date: Oct 25; net payment date: Nov 14
• C)Discount date: Oct 25; net payment date: Nov 15
• D)Discount date: Oct 15; net payment date: Nov 15

---

Definitions:

Single-Entry System

An accounting method where each financial transaction is recorded with a single entry to the accounting records, typically suited for small, simple businesses.

Accounting Records

Documentation of financial transactions and the financial status of a business, serving as a foundation for accounting.

Automatic Update

A feature in software that enables the automatic download and installation of new updates without manual intervention.

Patient or Vendor Accounts

Financial records detailing transactions between a patient or vendor and a healthcare provider or facility.