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Question 7.4.3: Best Buy received an invoice dated December 12, with terms o......

Best Buy received an invoice dated December 12, with terms of 2 / 10 ROG. The goods were received on January 2. Find (a) the final date on which the cash discount may be taken and (b) the net payment date.

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(a) The discount date is January 12 (10 days after receipt of goods, January 2 plus 10 days).

(b) The net payment date is February 1 (20 days after the last discount date).

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