Asked by Brenda Townsend on May 21, 2024
Verified
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
Credit Period
The amount of time the buyer is allowed in which to pay the seller.
Merchandise
Goods that are bought and sold in business transactions.
Invoice
The bill that the seller sends to the buyer.
- Distinguish the fundamental parts and terms pertinent to credit transactions.
Verified Answer
BA
BURHANI ABDULMay 22, 2024
Final Answer :
B
Explanation :
The credit period begins with the invoice date, which is November 13 in this case.
Learning Objectives
- Distinguish the fundamental parts and terms pertinent to credit transactions.
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