Question on: JAMB Commerce - 2012
If a customer pays within nine days of receiving goods and takes advantage of 3% off the invoice price, this is stated as
A
3/9;net 30
B
9/27;net 30
C
30;net 9/3
D
9/30;net 3
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Correct Option: D
* The notation "3/9; net 30" represents the terms of sale.
* The "3" indicates a 3% discount.
* The "9" represents the number of days (9 days) within which the customer must pay to receive the discount.
* "Net 30" means that if the customer doesn't take the discount, the full amount is due within 30 days.
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