Assuming that cash is available, payment for an account payable with terms of 3/10, net 30 should be made on day

Name: Assuming that cash is available, payment for an account payable with terms of 3/10, net 30 should be made on day
Brand: Quizplus
Rating: 4.8 (46 reviews)

Question

Quizplus · Accepted Answer

The terms 3/10, net 30 mean that the buyer can take a 3% discount if the invoice is paid within 10 days; otherwise, the full amount is due in 30 days. Therefore, to take advantage of the discount, payment should be made on day 10.

Assuming That Cash Is Available, Payment for an Account Payable