Ask Experts Questions for FREE Help !
Ask
    pianoqueen69's Avatar
    pianoqueen69 Posts: 1, Reputation: 1
    New Member
     
    #1

    Nov 18, 2008, 12:31 PM
    Having difficulties with n/10 EOM--Can someone explain this to me
    I have a final assignment due and have several ledgers I have to fill out. At this point I cannot continue as I am seriously stuck on one problem. Any assistance in this would be greatly appreciated. The problem is one but have several along the same lines. If I can understand just one, I should be able to complete the others with no problem.

    The problem:
    May 10 Purchased $4,074 of office equipment on credit from Gear Supply Co. invoice dated May 10, terms n/10 EOM.

    May 19 Issued Check No. 3413 to Garcia, Inc. in payment of its May 10 invoice less the discount.
    mslisah's Avatar
    mslisah Posts: 3, Reputation: 1
    New Member
     
    #2

    Jan 23, 2009, 07:08 PM

    this means that because the invoice was paid before the end of month, the customer get's a ten percent discount. So you would multiply 4074 by ten percent, subtract that from the purchase made on account, and that is what the check should be written for.

    4074 * .10 = 407.40
    4074-407.40= 3666.60 ( what customer owes)

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Difficulties in learning and recalling [ 2 Answers ]

I'm in a collage year two know, but I find myself difficulties on reading, writing especially when I need to go fast. My speed appears to be so limited, for instance it require me to pay attention on writing the spelling of a very common word I lent even from preschool. I see this as the problem of...

Starting Difficulties [ 2 Answers ]

2000 Chevy Van 1500 5.7 liter replaced cap and router as it would not start in wet weather Has been running great for the past week went to start it today and it would not turn over. Battery checks out dash board lights and headlights working when key is turned to start position no starter...

Electrical difficulties [ 1 Answers ]

The power went out in my breezeway and my garage. I went to breaker box and flipped the switch but no power came back to those rooms. What can I do now to restore the power? Please help. Email me at [email protected] with electrical problem as the subject. Thank you

Divorce difficulties [ 3 Answers ]

Me and my husband are going through a divorce and I have already signed the divorve papers and everything... well we have been sleeping together since those papers were signe, can I go and contest the divorce? Fr_chuck I am the only one that wants to do this he wouldn't want them withdrawn, I...


View more questions Search