The terms on an invoice dated January 3 are 2/10, net 30. The invoice total is $2,000. What amount of discount can be taken if the invoice is paid on January 16?
A) $40
B) $60
C) none
D) $200

Question

Quizplus · Accepted Answer

The terms 2/10, net 30 mean a 2% discount is available if the invoice is paid within 10 days. Since January 16 is beyond the 10-day discount period from January 3, no discount can be taken.

The Terms on an Invoice Dated January 3 Are 2/10