Question
A firm receives an invoice for $25,000 worth of supplies it purchased. The invoice states the following trade terms: 2/10 Net 30. The terms imply
A firm receives an invoice for $25,000 worth of supplies it purchased. The invoice states the following trade terms: "2/10 Net 30". The terms imply that what amount must be paid by what day?
A. $25,000 by 30th day
B. $22,500 by 30th day
C. $22,500 by 2nd day
D. $24,500 by 10th day
E. either a or d
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
