Question

Explain what the credit terms of 2/10,n/30 mean. (Check all that apply.) Multiple select question. The full payment is due within a 30-day credit period. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. The buyer can take a discount of 10% if the invoice is paid with 30 days of the invoice date. The full payment is due within 10 days.

Answer 1

Answer:

The full payment is due within a 30-day credit period.

The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date.

Explanation:

The credit terms of 2/10,n/30 means that

The credit period available is 30 days in which the fully payment is due

And, if the payment is made within the 10 days so the buyer could eligible for 2% discount on the total price

Therefore the above 2 options should be considered