A 2/15,n/30 date of invoice translates as:
A) a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month.
B) a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date.
C) a 2% cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month.
D) a 2% cash discount may be taken on 15% of the purchase if the account is paid within 30 days after the end of the month.

Question

Quizplus · Accepted Answer

A 2/15,n/30 date of invoice means that the buyer can take a 2% cash discount if they pay within 15 days of the invoice date, and if they don't take the cash discount, the full balance is due in 30 days from the invoice date. So, the correct option is B.

A 2/15,n/30 Date of Invoice Translates As