In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period

In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 3MC: Which of the following numbers represents the discount percentage applied if a customer pays within...

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Question

In the credit terms 1/10, n/30, what does the "1" represent?

Group of answer choices

number of days when the entire amount is due

number of days in the discount period

full amount of the invoice

1% cash discount if paid within the credit period

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