You are buying goods worth $75,000 from a firm that offers the credit terms of 2/10, net 30.What will be the actual payment if you paid within 10 days?

Name: You are buying goods worth $75,000 from a firm that offers the credit terms of 2/10, net 30.What will be the actual payment if you paid within 10 days?
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

The credit terms 2/10, net 30 mean a 2% discount is available if payment is made within 10 days. Therefore, the discount is $75,000 x 0.02 = $1,500, making the payment $75,000 - $1,500 = $73,500.

You Are Buying Goods Worth $75,000 from a Firm That