A buyer who acquires merchandise under credit terms of 1/10, n/30 has 30 days after the invoice date to take advantage of the sales discount.

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Jeremy Winston · Accepted Answer

Final Answer : False, Explanation :  The buyer has 10 days after the invoice date to take advantage of the sales discount, not 30 days. The terms 1/10, n/30 mean the buyer can take a 1% discount if the invoice is paid within 10 days; otherwise, the net (full) amount is due within 30 days.

A buyer who acquires merchandise under credit terms of 1/10, n/30 has 30 days after the invoice date to take advantage of the sales discount.

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