Question 1 When a transaction has the terms 2/10, n.45, which of the following below is/are true? 1. The customer gets anywhere from 2-10% discount by paying within 45 days, II. The customer gets a 2% discount by paying within 10 days III. The customer must pay within 10 days, and at 45 days legal implications will apply IV. In any case, the customer must pay within 45 days Il only II and III I and IV II and IV Question 2 Estimated returns inventory is a contra income statement account that offsets Cost of Goods Sold initially, then decreases as customers return inventory. True False