Oracle Benefits Cloud 2021 Implementation Essentials — Question 1

You created an Auto cash Ruleset where the first rule to be applied to receipts is Match Payments with Invoice. Discount = Earned Only, Late charges = NO, Receipt = $900, Receipt date = 14-Feb-2020, Discount Grace Days = 5.
Which transaction will be applied to the receipt?

Answer options

• A. Invoice Amount: $1000, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 28-Feb 2020
• B. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 20-Feb-2020
• C. Invoice Amount: $800, Payment Terms: 10% 10/Net 30, Invoice Date: 01-Feb-2020, Due Date: 24-Feb-2020
• D. Invoice Amount: $800, Payment terms: 10% 10/Net 30, Invoice Date: 01 Feb 2020, Due Date: 28-Feb-2020

Correct answer: A

Explanation

The correct answer is A because the invoice amount of $1000 exceeds the receipt amount of $900, but it falls within the discount grace days, allowing the payment to be applied. The other options B, C, and D have invoice amounts less than the receipt and do not fulfill the criteria needed for the Match Payments with Invoice rule.