Answer: C. March 10.
Here's how to arrive at that answer:
Break down the terms:
1/10: This means a 1% discount is available if the invoice is paid within 10 days.
EOM: This stands for "end of the month," indicating the discount period starts from the end of the month in which the invoice is dated.
Calculate the discount period:
The invoice is dated February 22, so the end of the month is February 28 (since February has 28 days).
The discount period starts from February 28 and lasts for 10 days.
Counting 10 days from February 28 takes us to March 10.
Therefore, the discount period ends on March 10. If the invoice is paid by March 10, the buyer can take a 1% discount off the total amount.
