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Financial Accounting MCQs

The terms 2/10, n/30 mean?

2% penalty incurred if not paid within 10 days.

$2 discount within 10 days, no discount within 30 days

2% discount if paid within 10 days, net amount due within 30 days.

2 Days to get a $10 discount otherwise you pay in full.

Answer

Correct Answer: 2% discount if paid within 10 days, net amount due within 30 days.

Explanation:

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