Question

In an attempt to attract new business customers, an automotive supply store offered terms of 2/10, net 30. What is the discount date for a purchase made on June 15?

a) June 17
b) June 25
c) June 30
d) July 15

Answer 1

The discount date for a purchase made on June 15 with terms of 2/10, net 30 is June 25.

Step-by-step explanation:

The terms 2/10, net 30 mean that if the customer pays within 10 days, they will receive a 2% discount. Otherwise, the full amount is due in 30 days. In this case, a purchase made on June 15 would have a discount date of June 25. The correct answer is b) June 25.