Which statement is true of an invoice with terms of 2/10 net 30?
Which statement is true of an invoice with terms of 2/10 net 30?
SELECT ONLY ONE
A 2% discount is applied if paid within 30 days
Within 10 days, 2% of the invoice must be paid
The full amount must be paid within 30 days
Payment is required within 10 days
A 10% discount is applied if paid within 2 days
Homework Answers
OPTION: The full amount must be paid within 30 days.
EXPLANATION:
The term 2/10 net 30 means, the full invoice amount must be paid within 30 days BUT if paid within 10 days, a 2% discount is applied/given.
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