1/15 net 30 date of invoice translates as
A. a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month.
B. a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date.
C. a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month.
D. a 1 percent discount may be taken on 15 percent of the purchase if the account is paid within 30 days after the end of the month.
Answer:B
1/15 net 30 date of invoice translates as
A. a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due in 30 days after the middle of the month. B. a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the invoice date. C. a 1 percent cash discount may be taken if paid in 15 days; if no cash discount is taken, the balance is due 30 days after the end of the month. D. a 1 percent discount may be taken on 15 percent of the purchase if the account is paid within 30 days after the end of the month.