Question

An invoice, with payment terms of 6/10, n/30, was issued on april 28 for $230.00. if the payment was made on may 12, the amount of payment will be ________. (round your answer to the nearest cent.)

Answer 1

The amount of the payment on May 12 will be the full amount of $230.00

6/10 n/30 means a 6% discount if paid within 10 days and the net amount is due within 30 days. Since the payment was made after 10 days there would be no discount, just the full amount due.