A plumbing supply company has a discount policy which states that, if a customer pays within 15 days of the invoice, the customer can take a 3% discount; otherwise, the full amount is due in 60 days from the date of the invoice. Which of the following notations are used in business to reflect this discount?   A. 3/15,n/60 B. 3/60,15/n C. 15/3,60/n D. 3/n,15/60

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A plumbing supply company has a discount policy which states that, if a customer pays within 15 days of the invoice, the customer can take a 3% discount; otherwise, the full amount is due in 60 days from the date of the invoice. Which of the following notations are used in business to reflect this discount?

 
  • A. 3/15,n/60
  • B. 3/60,15/n
  • C. 15/3,60/n
  • D. 3/n,15/60
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