Question

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? november 18 november 20 november 10 november 13

Answer 1

Answer:

The answer is "November 13".

Explanation:

November 13 is the date from which credit period begins in the given scenario because credit period refers to the no. of days that a client is permitted to hold up or wait before paying a receipt or an invoice. It does not refer to the number of days that the client takes to pay an invoice.