Question
A toy store buys Playstations from Sony with an invoice date of April 14. The terms of sale are \( 3 / 10 \) ROG. What is the net date if the shipment arrives June 12 ?
Ask by Salinas Young. in the United States
Jan 22,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The net date is June 22.
Solution
To determine the net date based on the terms of sale \( 3 / 10 \) ROG (Receipt of Goods), we need to follow these steps:
1. **Understand the Terms**: The terms \( 3 / 10 \) mean that the buyer can take a 3% discount if the invoice is paid within 10 days of the receipt of goods.
2. **Identify the Receipt Date**: The shipment arrives on June 12. This is the date when the goods are received.
3. **Calculate the Net Date**: Since the terms are \( 3 / 10 \), we need to add 10 days to the receipt date (June 12).
Now, let's calculate the net date:
- Receipt Date: June 12
- Add 10 days:
\[
\text{Net Date} = \text{June 12} + 10 \text{ days} = \text{June 22}
\]
Thus, the net date is **June 22**.
Answered by UpStudy AI and reviewed by a Professional Tutor
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Simplify this solution Extra Insights
The net date for payment is determined based on the terms \( 3 / 10 \) ROG (Received on Goods), which means the store can take a 3% discount if payment is made within 10 days of receiving the shipment. Since the shipment arrives on June 12, counting 10 days from that date gives us a net date of June 22. Therefore, the toy store must pay by June 22 to take advantage of any discount offered. If the payment is made after June 22, they must pay the full amount without the discount ! Always be mindful of the timeline to make the most of those savings!
