Sales discounts with terms 2/10, n/30 meana. 10 percent discount for payment received within30 days of the date of sale.b. 2 percent discount for payment received within 10 daysor the full amount (less returns) is due within 30 days.c. Two-tenths of a percent discount for payment receivedwithin 30 days.d. None of the above
Sales discounts with terms 2/10, n/30 meana. 10 percent discount for payment received within30 days of the date of sale.b. 2 percent discount for payment received within 10 daysor the full amount (less returns) is due within 30 days.c. Two-tenths of a percent discount for payment receivedwithin 30 days.d. None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Sales discounts with terms 2/10, n/30 mean
a. 10 percent discount for payment received within
30 days of the date of sale.
b. 2 percent discount for payment received within 10 days
or the full amount (less returns) is due within 30 days.
c. Two-tenths of a percent discount for payment received
within 30 days.
d. None of the above
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