credit terms of 2/10, n/30 imply that the seller offers the purchaser a 2% cash discount if the amount is paid within 10 days of the invoice date. otherwise, the full amount is due in 30 days. group startstrue or false

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24-10-2022
Business

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credit terms of 2/10, n/30 imply that the seller offers the purchaser a 2% cash discount if the amount is paid within 10 days of the invoice date. otherwise, the full amount is due in 30 days. group startstrue or false

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SanofarAfrin SanofarAfrin · Answer 1 · 2022-11-01T02:33:36-04:00

This assertion is accurate. Credit conditions of 2/10, n/30 signify that the seller will give the buyer a 2% cash discount if they pay the full amount within 10 days of the invoice date. If not, the entire sum is due in 30 days.

What does 2/10 N 30 signify in terms of sales discounts?

Trade credit is given by the seller to the buyer in the amount of 2/10 net 30. Invoices must be paid in full within the first ten days after the invoice date to qualify for a reduction of 2% on the net amount. Otherwise, a reduction is not offered, and the entire invoice amount is due in 30 days.

What exactly do the credit terms 2/15 N 30 mean?

The words "2/15, n/30" (2% discount for payment within 15 days and full payment due within 30 days) and "n/10 EOM" are a couple of versions of the cash discount terms (the invoice is due and payable 10 days after the end of the month in which the sale occurred).

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