WebWhich of the following correctly describes credit terms of 2/10, n/30? Multiple Choice A)A two percent discount for early payment is available if the invoice is paid before the tenth day of the month following the month the sale. WebNovak's Warehouse distributes hardback books to retail stores and extends credit terms of 2/10,n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,010 from Catlin Publishers, terms 2/10,n/30. 3 Sold books on account to Garfunkle Bookstore for $1,240.
What Does 2/10 net 30 Mean & How to Calculate it - Tipalti
WebJun 6, 2024 · Credit Terms: Explanation: Effective Interest: Net 10: Pay in 10 days: None: Net 30: Pay in 30 days: None: Net EOM 10: Pay within 10 days of month-end: None: 1/10 Net 30: Take 1% discount if pay in 10 days, otherwise pay in 30 days: 18.2%: 2/10 Net 30: Take 2% discount if pay in 10 days, otherwise pay in 30 days: 36.7%: 1/10 Net 60 WebExpert Answer. Novak's Warehouse distributes hardback books to retail stores and extends credit terms of 2/10,n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $1,010 from Catlin Publishers, terms 2/10,n/30. 3 Sold books on account to Garfunkle ... shany toris
2/10 Net 30 - Understand How Trade Credits Work in …
WebQuestion: 6 Sold 10 bicycles from the October 1 inventory to Team America for $250 each, terms 2/10, n/ 30 . 7 Recsived credit from the Nixon Eicycle Company for the return of 8 defactive bicyeles. 13 Issued a credit memo to Team Ameriea for the raturn of a defective bicycie. 14 Paid Nixon Bicycle Compamy in full, less discount. WebQuestion: Explain what the credit terms of 2/10,n/30 mean. (Check all that apply.) Multiple select question. The full payment is due within 10 days. The buyer can take a discount of 10% if the invoice is paid with 30 days of the invoice date. The buyer can deduct 2% of the invoice amount if payment is made within 10 days of the invoice date. WebBuild faster with Marketplace. From templates to Experts, discover everything you need to create an amazing site with Webflow. 280% increase in organic traffic. “Velocity is crucial in marketing. The more campaigns we can put together, the more pages we can create, the bigger we feel, and the more touch points we have with customers. pong tic tac toe