If an organization purchases $2,100 of supplies on account, with terms of 2/15, n50: $1,950 must be paid within 15 days of the invoice date. $2,094 must be paid within 50 days of the invoice date. $2,058 can be paid within 15 days of the invoice date, or $2,100 must be paid within 50 days of the invoice date. $2,058 can be paid within 15 days of the invoice date, or $2,142 must be paid within 50 days of the invoice date.

Question

Kristen

Mathematics

19 May, 10:01

If an organization purchases $2,100 of supplies on account, with terms of 2/15, n50: $1,950 must be paid within 15 days of the invoice date. $2,094 must be paid within 50 days of the invoice date. $2,058 can be paid within 15 days of the invoice date, or $2,100 must be paid within 50 days of the invoice date. $2,058 can be paid within 15 days of the invoice date, or $2,142 must be paid within 50 days of the invoice date.

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Belen Armstrong · Answer 1

The 2/15, n/50 means 2% discount will be given if you pay within 15 days or pay the entire amount within 50 days.

So if you compute for the discount for 15 days it will be $42 ($2100 x. 02)

So $2058 can be paid within 15 days of the invoice date or pay the entire $2100 must be paid within 50 days of the invoice date.