When a buyer receives an invoice for $100 with terms of "2/15 net 30" she can expect to pay
A)$100 if she pays anytime in the first 30 days.
B)less than $100 if she pays during the first 15 days.
C)$100 if she pays anytime during the first fifteen days.
D)more than $100 if she pays between day fifteen and day thirty.
E)the full $100 if she waits more than 30 days to pay.

Question

Quizplus · Accepted Answer

The notation "2/15,net 30" means the buyer can take a 2 percent discount off the face value of the invoice if the invoice is paid within 15 days.That means she would pay $98.Otherwise,the full face value is due within 30 days.

When a Buyer Receives an Invoice for $100 with Terms