ou purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods on July 23, calculate (a) the last day of the discount period, and (b) the last day of the credit period. b. Last day of credit period:

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter22: Providing And Obtaining Credit
Section: Chapter Questions
Problem 2Q
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You purchase goods on an invoice dated July 5 with terms of 4/15, n/45 ROG. If you receive the goods
on July 23, calculate
(a) the last day of the discount period, and (b) the last day of the credit period.
b. Last day of credit period:

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