Question

The terms of an invoice are 3/10, n/25. this means that a ________ of the invoice date.

Answer 1

The terms of an invoice are 3/10, n/25 this means that a discount of 3% is allowed if the invoice is paid within 10 days of the invoice date.

3/10, n/25 this means that a 10% cash discount is available if the invoice is paid within 10 days, pay the net price if covered within 25 days of the invoice date. Discounts are reductions of the normal fee of a product or service with the purpose to obtain or growing income.

Trade discount refers to the deduction given by using the supplier to the purchaser within the catalog price of the goods. Cash discount implies the allowance granted to the clients by means of the supplier on the billing fee, for immediate payment.

A cash discount also referred to as a purchase cut price or income discount, is a reduction in the purchase fee of an excellent because of an early cash charge. In different words, the seller of products is inclined to lessen the fee of the goods if the purchaser is inclined to pay for the coolest in advance.

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