Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which one of the following statements is correct if you purchase an item with credit terms of 2/15, net 30? One-half of your purchase is
Which one of the following statements is correct if you purchase an item with credit terms of 2/15, net 30?
-
One-half of your purchase is due in 15 days and the rest is due in 30 days.
-
If you do not pay within 15 days, you will be charged interest at a rate of 2 percent per month.
-
If you pay 2 percent of your purchase within 15 days, you will have 30 days to pay for the remainder.
-
If you pay within 15 days, you will receive a discount of 2 percent.
-
If you pay within 2 days, you will receive a discount of 15 percent.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started