QUESTION 1

1. A 2/15, n/30 date of invoice translates as:

A. a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month

B .a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date

C. a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month

D. a 2% cash discount may be taken on 15% of the purchase if the account is paid within 30 days after the end of the month