Find the Final Discount Date and the Net Payment Date

question 59

Multiple Choice

Find the final discount date and the net payment date.
-Invoice date: June 11
As of: June 15
Terms:

• A)Final discount: July 6 Payment due: Aug 15
• B)Final discount: Aug 14 Payment due: July 5
• C)Final discount: July 1 Payment due: Aug 10
• D)Final discount: July 5 Payment due: Aug 14

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Definitions:

Common Stock

Ownership interest in a company, granting the right to participate in voting on company issues and to receive a share of the profits.

Net Income

The total amount of profit earned by a company after all expenses and taxes have been deducted from revenue.

Consolidated Financial Statements

Combined financial statements of a parent company and its subsidiaries, showing the financial results and financial position as if the group were a single entity.