At what point does a customer's unpaid account become delinquent when the terms of sale are 2/10,net 60?
A) 11 days after the sale
B) 31 days after the sale
C) 61 days after the sale
D) 71 days after the sale

Question

Quizplus · Accepted Answer

The terms "2/10, net 60" mean a 2% discount is available if paid within 10 days, and the full amount is due in 60 days. The account becomes delinquent after 60 days, so it is delinquent on the 61st day.

At What Point Does a Customer's Unpaid Account Become Delinquent