Distribution Practice Sheet

Match the type of dating term to its example:

1. 2/10, net 40, ROG                        a. Advanced
2. 3/15, net 30                                b. Receipt of Goods
3. 2/10, net 15, 20 extra                        c. End of month
4. 2/15, net 40 as of June 1                d. Ordinary
5. 4/20, net 30 EOM                        e. Extra

6. Invoice date: January 5.  Goods received: January 7.  Terms are 3/15, net 30.  Amount of the bill is $2618.00

1. What is the last day to take the discount?
2. What is the last day to pay the total bill?
3. What amount would you have to pay if you were able to take the discount?

7. Invoice date: June 16.  Goods received 26.  Terms are 2/10, net 40.  Amount of the bill is $535.00.

4. What is the last day to take the discount?
5. What is the last day to pay the total bill?
6. What amount would you have to pay if you were able to take the discount?

8. Invoice date: November 26.  Goods received: November 29.  Terms are 4/20, net 30 EOM.  Amount of the bill is $1000.00.

7. What is the last day to take the discount?
8. What is the last day to pay the total bill?
9. What amount would you have to pay if you were able to take the discount?

9. Invoice date: September 5.  Goods received: September 8.  Terms are 2/10, net 15, 20 extra.  Amount of the bill is $213.00.

10. What is the last day to take the discount?
11. What is the last day to pay the total bill?
12. What amount would you have to pay if you were able to take the discount?

10. Invoice date: July 6.  Goods received: July 13.  Terms are 2/15, net 40 as of August 1.  Amount of the bill is $763.00.

13. What is the last day to take the discount?
14. What is the last day to pay the total bill?
15. What amount would you have to pay if you were able to take the discount?

11. Invoice date: August 11.  Goods received: August 12.  Terms are 4/20, net 30 EOM.  Amount of the bill is $4440.00.

16. What is the last day to take the discount?
17. What is the last day to pay the total bill?
18. What amount would you have to pay if you were able to take the discount?

12.  F.O.B. stands for what?

13.  Keri makes widgets.  She is going to ship them to Sue with the delivery agreement of FOB Destination, charges reversed.

1. Who is responsible for paying transportation?
2. Who has ownership of the goods in transit?

14.  Jason is shipping goods to Josh with the delivery agreement of FOB shipping point.

3. Who is responsible for paying transportation?
4. Who has ownership of the goods in transit?

15. Marissa is shipping goods to Phil with the delivery agreement of FOB destination.

5. Who is responsible for paying transportation?
6. Who has ownership of the goods in transit?