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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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Section
BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

Explain the following credit terms: (a) n/30; (b) 2/10, n/60; (c) 1/15, EOM, n/30.

To determine

Explain the given credit terms.

Explanation

Credit terms: Credit terms are the terms of payment offered by the seller to the buyer.

Particulars
  1. (a) n/30
Net 30 days; the full amount of the bill is due within the 30 days of the invoice date...

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