Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The credit terms, 2/15, n/30, indicate that a: fifteen percent discount can be deducted if the invoice is paid within two days following the

 

The credit terms, 2/15, n/30, indicate that a: fifteen percent discount can be deducted if the invoice is paid within two days following the date of sale. two percent discount can be deducted for a period up to thirty days following the date of sale. two percent discount can be deducted if the invoice is paid before the fifteenth day following the date of the sale. two percent discount can be deducted if the invoice is paid after the fifteenth day following the sale, but before the thirtieth day.

Step by Step Solution

3.41 Rating (160 Votes )

There are 3 Steps involved in it

Step: 1

215 n30 means buyer can pay the amount without discount within 30 days and ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

Volume 1, 6th Edition

1259103250, 978-1259103254, 978-0071339476

More Books

Students also viewed these Accounting questions

Question

Does log 81 (2401) = log 3 (7)? Verify the claim algebraically.

Answered: 1 week ago

Question

How is the concept of matching usually applied to period costs?

Answered: 1 week ago