Jake's Auto Repair receives an invoice for some equipment he purchased on credit. The full face value of the invoice is to be paid within 60 days. However, if it is paid within 10 days, Jake can take a 6 percent discount off the face value of the invoice. Which of the following notations accurately represents the conditions described above?

Question

Quizplus · Accepted Answer

The notation "6/10, net 60" means that the invoice is due in full within 60 days, but if paid within 10 days, a 6 percent discount can be taken. This accurately represents the conditions described in the problem statement.

Jake's Auto Repair Receives an Invoice for Some Equipment He