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Merchandise is ordered on November 10; the merchandise is shipped by the seller and the invoice is prepared, dated, and mailed by the seller on November 13; the merchandise is received by the buyer on November 18; the entry is made in the buyer's accounts on November 20. The credit period begins with what date? A. November 10 B. November 13 C. November 18 D. November 20

Respuesta :

sadddamkashmiri801

Answer:

Option B November 13th

Explanation:

The credit period begins from the day the invoice was received which is November 13th. Though we legally don't owe seller as he has not fulfilled his share or delivered consideration but if he is offering a contract that if you pay me within 30 (say) days we will give you 2% discount which means the consideration is early payment and in this contract the date starts from date of invoice received. So we will have to pay our supplier within 30 days starting from November 13, if we desire a 2% profit.

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