Question
What does the invoice term 2/10, Net 30 mean? The buyer can take a 30% discount for paying in 2 days. The total bill is
What does the invoice term 2/10, Net 30 mean?
| The buyer can take a 30% discount for paying in 2 days. The total bill is due in 10 days if the discount is not taken. | ||
| The buyer will have to pay 10% more if they pay by credit and will get a 2% discount if they pay by cash in 30 days. | ||
| The buyer can take a 2% discount for paying within 10 days. The total bill is due in 30 days if the discount is not taken. | ||
| The total bill has an interest rate of 2% over 10 months if it is not paid in 30 days. |
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
14th Edition
1260247821, 978-1260247824
