Correct Answer A
If the invoice is paid within 14 days a discount of 1.5 percent can be taken, otherwise the invoice is due in 30 days.
What is meant by the term 1.5/14 net 30? If the invoice is paid within 14...
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
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. Interest of 10 percent will be charged if invoice is paid after two days. B. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. Interest of 2 percent will be charged if the invoice is paid after...
What does "2/10" mean, with respect to "credit terms of 2/10, n/30"? A discount of 10 percent will be allowed if the invoice is paid within two days of the invoice date. Interest of 10 percent will be charged if invoice is paid after two days. B. A discount of 2 percent will be allowed if the invoice is paid within 10 days of the invoice date. Interest of 2 percent will be charged if the invoice is paid after...
Tony Chang gives good customers a cash discount of 1.5% on any amount that they pay within 5 days of the invoice date. An invoice for $1,890 was written on February 2. The customer paid $900 on February 6. Compute the amount that Tony must credit to his customer's account. (This problem involves the partial payment of an invoice within the discount period.) Round your answer to two decimal places. $ credited
A business offers credit terms of 2/15, n/30. These terms indicate that: A. the total amount of the invoice must be paid within 15 days of the invoice date B. the buyer can take a 2% discount if the bill is paid within 30 days of the invoice date C. a discount of 2% can be taken if the invoice is paid within 15 days of the invoice date D. no discount is offered for early payment
How do you compute net income for a merchandiser O Cost of goods sold other expenses. O Net sales - cost of goods sold other expenses. O Revenues - expenses. O Net sales - cost of goods sold. Explain what the credit terms of 2/10,n/30 mean. (Check all that apply.) The full payment is due within 10 days. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The buyer...
Credit terms of 5/10, net 30 means that a cash discount of 5% can be taken if payment is made by _________________ or the full invoice must be paid by __________________ . 2 days, 30 days 2 days, 10 days 10 days, 30 days 30 days, 10 days
If a company gives you discount terms of 2% in 5 days, Net 30, what is the effective rate that you can earn if you take a discount on an invoice of $10,000? 2% in 5 days mean you can pay 98% of the invoice in 5 days, or 100% in 30 days.
Explain what the credit terms of 2/10,1/30 mean. (Check all that apply.) The full payment is due within 10 days. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The buyer can take a discount of 10% if the invoice is paid with 30 days of the invoice date. The full payment is due within a 30-day credit period. X-Mart purchased $300 of merchandise on account. Demonstrate the journal...