If a company sells merchandise with credit terms 2/10 n/60, the credit period is 10 days and the discount period is 60 days.

Name: If a company sells merchandise with credit terms 2/10 n/60, the credit period is 10 days and the discount period is 60 days.
Brand: Quizplus
Rating: 4.9 (41 reviews)

Question

Quizplus · Accepted Answer

The credit terms 2/10 n/60 mean a 2% discount is available if paid within 10 days, and the net (full) amount is due in 60 days. The discount period is 10 days, not 60.

If a Company Sells Merchandise with Credit Terms 2/10 N/60