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Question 7.3.3: An invoice for a shipment of Henkels cutlery from Germany is......

An invoice for a shipment of Henkels cutlery from Germany is dated October 21 AS OF November 1 with terms of 3 / 15, n / 30. Find (a) the last date on which the cash discount may be taken and (b) the net payment date.

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(a) Beginning with the postdate (AS OF) of November 1, the last date for taking the discount is November 16 (1 + 15).

(b) The net payment date is December 1 (29 days remaining in November and 1 day in December).

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