A firm grants trade credit with terms of 3/20,n/60 .It signifies,that if payment has not been made within ____ days,then the full invoice price is payable within _____ days.

Name: A firm grants trade credit with terms of 3/20,n/60 .It signifies,that if payment has not been made within ____ days,then the full invoice price is payable within _____ days.
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Question

Quizplus · Accepted Answer

The terms "3/20, n/60" mean that a 3% discount is available if payment is made within 20 days; otherwise, the full invoice price is due within 60 days.

A Firm Grants Trade Credit with Terms of 3/20,n/60