An invoice,with payment terms of 5/10,n/30,was issued on April 28 for $250.00.If the payment was made on May 12,the amount of payment will be ________.(Round your answer to the nearest cent.)
A) $250.00
B) $225.00
C) $237.50
D) $245.00

Question

Quizplus · Accepted Answer

The payment terms 5/10, n/30 mean that a 5% discount is available if the invoice is paid within 10 days; otherwise, the net (full) amount is due within 30 days. Since the payment was made on May 12, which is beyond the 10-day discount period from April 28, the full amount of $250.00 is due.

An Invoice,with Payment Terms of 5/10,n/30,was Issued on April 28