Today, July 8, you bought $26,400 worth of merchandise from your supplier. The credit terms are 2/5, net 15. By what day do you have to make your payment to receive the discount?

A) July 10
B) July 11
C) July 13
D) July 18
E) July 23

Question

Ethan Kuczynski · Accepted Answer

Final Answer : C, Explanation :  The credit terms 2/5, net 15 mean you have 5 days from the purchase date (July 8) to pay and receive a 2% discount. Therefore, adding 5 days to July 8 gives you until July 13 to make the payment with the discount.

Today, July 8, you bought $26,400 worth of merchandise from your supplier. The credit terms are 2/5, net 15. By what day do you have to make your payment to receive the discount?

A) July 10
B) July 11
C) July 13
D) July 18
E) July 23

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Learning Objectives

Related questions

Today, July 8, you bought $26,400 worth of merchandise from your supplier. The credit terms are 2/5, net 15. By what day do you have to make your payment to receive the discount?A) July 10B) July 11C) July 13D) July 18E) July 23

Definitions

Learning Objectives

Learning Objectives

Related questions

Today, July 8, you bought $26,400 worth of merchandise from your supplier. The credit terms are 2/5, net 15. By what day do you have to make your payment to receive the discount?

A) July 10
B) July 11
C) July 13
D) July 18
E) July 23