Question

The credit terms, 2/15, n/30, indicate that a: Multiple Choice two percent discount can be deducted if the invoice is paid after the fifteenth day following the sale, but before the thirtieth day. two percent discount can be deducted for a period up to thirty days following the date of sale. two percent discount can be deducted if the invoice is paid before the fifteenth day following the date of the sale. fifteen percent discount can be deducted if the invoice is paid within two days following the date of sale.

Answer 1

Answer:

two percent discount can be deducted if the invoice is paid before the fifteenth day following the date of the sale.

Explanation:

Term 2/15, n/30 means there is a discount of 2% is available on payment of due balance within discount period of 15 days after sale and net credit period of 30 days. If the payment is made within 15 days after sale the discount will be deducted. After the discount period full amount will be be without discount deduction.