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Damon Company sold merchandise to a customer on credit for $10,000 with credit terms of 1/10, n/30. The invoice was dated April 14. Which one
Damon Company sold merchandise to a customer on credit for $10,000 with credit terms of 1/10, n/30. The invoice was dated April 14.
Which one of the following statements is true?
a. |
The customer can take a $1,000 discount if the invoice is paid by May 13 | |
b. |
The customer should pay $9,500 if the invoice is paid by April 24 | |
c. |
The customer must pay $10,000 if paid after April 24 | |
d. |
The customer must pay a $100 penalty if payment is made after May 13 |
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