What do credit terms of 2/10, n/30 indicate?
A) Two percent discount for early payment is available within ten days of the invoice date.
B) Two percent discount for early payment is available if the invoice is paid after the tenth day, but before the thirtieth day of the invoice date.
C) Two percent discount for early payment is available if the invoice is paid before the tenth day of the month following the month the sale.
D) Ten percent discount for early payment is available if the invoice is paid within two days of the date of the invoice.
Correct Answer:
Verified
Q9: When do most companies usually recognize revenue
Q10: The WD Co. reported revenue of $23,402
Q11: Vida Corporation gathered the following reconciling information
Q12: Which of the following is required for
Q13: In 2013, G CO. reported product sales
Q15: For accounting purposes, cash includes which of
Q16: Central Company sold goods for $5,000 to
Q17: Prior to the write off of a
Q18: If a company uses the completed contract
Q19: Bank errors
A) are infrequent in occurrence.
B) are
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents