A credit term of 3/10 net 60 means Discount of 0.3% if paid immediately else payment is effected after 60 days Discount of 10% if paid within 3 days else payment is effected after 60 days Discount of 3% if paid within 10 days else payment is effected after 60 days 10% of the dues paid within 3 days and balance in 60 days
A credit term of 3/10 net 60 means Discount of 0.3% if paid immediately else payment is effected after 60 days Discount of 10% if paid within 3 days else payment is effected after 60 days Discount of 3% if paid within 10 days else payment is effected after 60 days 10% of the dues paid within 3 days and balance in 60 days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A credit term of 3/10 net 60 means
Discount of 0.3% if paid immediately else payment is effected after 60 days
Discount of 10% if paid within 3 days else payment is effected after 60 days
Discount of 3% if paid within 10 days else payment is effected after 60 days
10% of the dues paid within 3 days and balance in 60 days
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