Question

a vendor allows you to pay using 2% Net 30 terms. This means you are eligible for a discount if you pay within __days

Answer 1

Under the payment terms of 2% Net 30, a customer is eligible for a 2% discount if they pay within 10 days of the invoice date.

Step-by-step explanation:

The terms 2% Net 30 mean that a vendor offers a 2% discount on an invoice if payment is made within 30 days. Specifically, the discount is available if payment is made within the first 10 days of that 30-day period. If you pay after the 10th day but within the 30 days, you'll need to pay the full invoice amount. This practice encourages early payment and can benefit both the vendor and the customer financially.