you purchase $1,200 worth of office supplies and receive a bill on 15 - may with 2/10 eom. what is the…

you purchase $1,200 worth of office supplies and receive a bill on 15 - may with 2/10 eom. what is the amount to be paid if the discount is included? bill amount with discount = $1,176 when is the discounted payment due? discount due date (day - month) = 10 - ?

you purchase $1,200 worth of office supplies and receive a bill on 15 - may with 2/10 eom. what is the amount to be paid if the discount is included? bill amount with discount = $1,176 when is the discounted payment due? discount due date (day - month) = 10 - ?

Answer

Explanation:

Step1: Understand the discount term

The term 2/10 EOM means a 2% discount if paid within 10 days after the end - of - month.

Step2: Calculate the discounted amount

The original amount is $1200. The discount rate is 2% or 0.02. The discount amount is $1200×0.02 = $24. The amount to be paid with the discount is $1200 - $24=$1176.

Step3: Determine the discount due date

The bill is received on 15 - May. With 2/10 EOM, the end - of - month is May 31st. The discount due date is 10 days after the end - of - month, so it is 10 - Jun.

Answer:

Bill Amount with Discount = $1176 Discount Due Date (Day - Month) = 10 - Jun