Washington Products offers credit terms of 3/10, n/45. Which of the following statementsis correct?a. The customer can take a 3% discount if the bill is paid within 45 days of the invoice date.b. The total amount of the invoice must be paid within 10 days of the invoice date.c. A discount of 3% can be taken if the invoice is paid within 10 days of the invoice date.d. No discount is offered for early payment.
Washington Products offers credit terms of 3/10, n/45. Which of the following statementsis correct?a. The customer can take a 3% discount if the bill is paid within 45 days of the invoice date.b. The total amount of the invoice must be paid within 10 days of the invoice date.c. A discount of 3% can be taken if the invoice is paid within 10 days of the invoice date.d. No discount is offered for early payment.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Washington Products offers credit terms of 3/10, n/45. Which of the following statements
is correct?
a. The customer can take a 3% discount if the bill is paid within 45 days of the invoice date.
b. The total amount of the invoice must be paid within 10 days of the invoice date.
c. A discount of 3% can be taken if the invoice is paid within 10 days of the invoice date.
d. No discount is offered for early payment.
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