A trade credit bill of $80,000 with terms of sale of 2/5, net 30 means the buyer saves if the bill is paid within the discount period. a. $0. b. $1,600. c. $2,500. d. $4,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A trade credit bill of $80,000 with terms of sale of
2/5, net 30 means the buyer saves
if the bill is
paid within the discount period.
a. $0.
b. $1,600.
c. $2,500.
d. $4,000.
Transcribed Image Text:A trade credit bill of $80,000 with terms of sale of 2/5, net 30 means the buyer saves if the bill is paid within the discount period. a. $0. b. $1,600. c. $2,500. d. $4,000.
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