Q26 In credit terms of 3/15, n/45, the "3"representsa. Full amount of the invoiceb. Percent of the cash discountc. Number of days when the entireamount is dued. Number of days in the discountperiod

The terms of 3/15, n/45 means a discount of 3% if payment is made within 15 days whereas payment…

In credit terms of 3/15, n/45, the "3" represents a. Full amount of the invoice b. Percent of the cash discount O c. Number of days when the entire amount is due O d. Number of days in the discount period

In credit terms of 3/15, n/45, the "3" represents a. Full amount of the invoice b. Percent of the cash discount O c. Number of days when the entire amount is due O d. Number of days in the discount period

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Q26

In credit terms of 3/15, n/45, the "3"
represents
a. Full amount of the invoice
b. Percent of the cash discount
c. Number of days when the entire
amount is due
d. Number of days in the discount
period

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